https://www.taxtmi.com/caselaws?id=258952 The Court upheld the decisions of the CIT(A) and Tribunal, dismissing the Revenue's appeal. The disallowance of indirect expenses and interest on the loan claimed by the assessee was rejected as the expenses were found to be utilized for business purposes. Additionally, the addition of the difference in valuation of closing work in progress was deemed unjustified, as the engineer's certificate supporting the valuation was considered reliable. The Court found no substantial question of law to interfere with the lower authorities' judgments and orders. en-us Tue, 31 Mar 2015 00:00:00 +0530 Sat, 25 Apr 2015 06:32:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258952 The Court upheld the decisions of the CIT(A) and Tribunal, dismissing the Revenue's appeal. The disallowance of indirect expenses and interest on the loan claimed by the assessee was rejected as the expenses were found to be utilized for business purposes. Additionally, the addition of the difference in valuation of closing work in progress was deemed unjustified, as the engineer's certificate supporting the valuation was considered reliable. The Court found no substantial question of law to interfere with the lower authorities' judgments and orders. Case-Laws Income Tax Tue, 31 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258952