https://www.taxtmi.com/caselaws?id=234601 The Tribunal upheld the disallowance of Rs. 15,04,000 as capital expenditure for setting up a new showroom, considering it as a capital asset. Additionally, Rs. 1 lakh spent on charitable contributions was disallowed as non-business expenditure. The issue of disallowance of interest on borrowed funds amounting to Rs. 7,14,80,735 was remitted back to the assessing officer for further examination due to discrepancies in the assessee's claims. The assessee's appeal was dismissed, and the revenue's appeal was allowed for statistical purposes. en-us Fri, 07 Jun 2013 00:00:00 +0530 Sat, 02 Nov 2013 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234601 The Tribunal upheld the disallowance of Rs. 15,04,000 as capital expenditure for setting up a new showroom, considering it as a capital asset. Additionally, Rs. 1 lakh spent on charitable contributions was disallowed as non-business expenditure. The issue of disallowance of interest on borrowed funds amounting to Rs. 7,14,80,735 was remitted back to the assessing officer for further examination due to discrepancies in the assessee's claims. The assessee's appeal was dismissed, and the revenue's appeal was allowed for statistical purposes. Case-Laws Income Tax Fri, 07 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234601