https://www.taxtmi.com/caselaws?id=234880 The ITAT partially allowed the Revenue's appeal on disallowance of interest and advances written off and interest on borrowed funds, directing further verification by the Assessing Officer. However, the appeal on disallowance of interest on house building property was dismissed, upholding the CIT(A)'s decision. The judgments were based on proper application of the Income-tax Act, 1961, considering the utilization of funds and income generation from the property. en-us Fri, 21 Jun 2013 00:00:00 +0530 Tue, 02 Jul 2013 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234880 The ITAT partially allowed the Revenue's appeal on disallowance of interest and advances written off and interest on borrowed funds, directing further verification by the Assessing Officer. However, the appeal on disallowance of interest on house building property was dismissed, upholding the CIT(A)'s decision. The judgments were based on proper application of the Income-tax Act, 1961, considering the utilization of funds and income generation from the property. Case-Laws Income Tax Fri, 21 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234880