https://www.taxtmi.com/caselaws?id=242486 The Tribunal confirmed the disallowance of interest on a term loan for repairs and renovations of an industrial shed, as the expenses were capitalized. Additionally, the Tribunal upheld the disallowance of bank commission and increased the disallowance of interest by the bank commission amount. The Tribunal dismissed the assessee's appeal and partially allowed the revenue's appeal, maintaining the disallowance of interest and deleting the addition under section 2(22)(e) of the Income-tax Act. en-us Thu, 06 Jun 2013 00:00:00 +0530 Thu, 16 Jan 2014 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242486 The Tribunal confirmed the disallowance of interest on a term loan for repairs and renovations of an industrial shed, as the expenses were capitalized. Additionally, the Tribunal upheld the disallowance of bank commission and increased the disallowance of interest by the bank commission amount. The Tribunal dismissed the assessee's appeal and partially allowed the revenue's appeal, maintaining the disallowance of interest and deleting the addition under section 2(22)(e) of the Income-tax Act. Case-Laws Income Tax Thu, 06 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242486