https://www.taxtmi.com/caselaws?id=216946 The Tribunal allowed the assessee's claim regarding the disallowance of interest on borrowed funds and the commercial expediency of funds used by sister concerns. The matter of employees' contribution to P.F. was remitted back to the AO for verification. The disallowance of prior period expenses and the depreciation rate on hotel buildings were upheld. The disallowance of interest expenses under section 14A was restricted to 1% of the expenses. The appeal was partly allowed in favor of the assessee. en-us Tue, 19 Jun 2012 00:00:00 +0530 Sun, 20 Jan 2013 19:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216946 The Tribunal allowed the assessee's claim regarding the disallowance of interest on borrowed funds and the commercial expediency of funds used by sister concerns. The matter of employees' contribution to P.F. was remitted back to the AO for verification. The disallowance of prior period expenses and the depreciation rate on hotel buildings were upheld. The disallowance of interest expenses under section 14A was restricted to 1% of the expenses. The appeal was partly allowed in favor of the assessee. Case-Laws Income Tax Tue, 19 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216946