https://www.taxtmi.com/caselaws?id=255951 The Tribunal partly allowed the appeal for A.Y. 2005-06, remanding the matter to the A.O. for verification of interest payments on borrowed capital for house property construction. The appeal for A.Y. 2007-08 was dismissed, upholding the CIT(A)'s disallowances of various business expenses under section 37(1) of the Act. The Tribunal directed the A.O. to recalculate interest under section 234B of the Act in accordance with the appellate order. en-us Fri, 31 Oct 2014 00:00:00 +0530 Mon, 12 Jan 2015 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255951 The Tribunal partly allowed the appeal for A.Y. 2005-06, remanding the matter to the A.O. for verification of interest payments on borrowed capital for house property construction. The appeal for A.Y. 2007-08 was dismissed, upholding the CIT(A)'s disallowances of various business expenses under section 37(1) of the Act. The Tribunal directed the A.O. to recalculate interest under section 234B of the Act in accordance with the appellate order. Case-Laws Income Tax Fri, 31 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255951