https://www.taxtmi.com/caselaws?id=159006 The Tribunal allowed the appeal in favor of the assessee on both issues. Regarding the working out of capital gains from the sale of a depreciable asset, the Tribunal permitted the adjustment of the cost of a newly acquired asset against the sale consideration without the precondition of business usage. The disallowance of interest payments was also overturned, as the Tribunal found no established nexus between the borrowed funds and the interest-free advances made by the assessee. en-us Fri, 13 Sep 1996 00:00:00 +0530 Wed, 13 Nov 2013 10:59:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159006 The Tribunal allowed the appeal in favor of the assessee on both issues. Regarding the working out of capital gains from the sale of a depreciable asset, the Tribunal permitted the adjustment of the cost of a newly acquired asset against the sale consideration without the precondition of business usage. The disallowance of interest payments was also overturned, as the Tribunal found no established nexus between the borrowed funds and the interest-free advances made by the assessee. Case-Laws Income Tax Fri, 13 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159006