https://www.taxtmi.com/caselaws?id=268804 The Tribunal partially allowed the assessee's appeal, directing the AO to verify and allow the interest paid on borrowed funds for land acquisition as part of the cost. Other claims for administrative expenses and improvement costs were disallowed due to lack of substantiation and relevance. The Tribunal emphasized treating expenditure under the Joint Development Agreement as business expenditure, not an improvement cost of the capital asset. en-us Fri, 09 Oct 2015 00:00:00 +0530 Wed, 02 Dec 2015 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268804 The Tribunal partially allowed the assessee's appeal, directing the AO to verify and allow the interest paid on borrowed funds for land acquisition as part of the cost. Other claims for administrative expenses and improvement costs were disallowed due to lack of substantiation and relevance. The Tribunal emphasized treating expenditure under the Joint Development Agreement as business expenditure, not an improvement cost of the capital asset. Case-Laws Income Tax Fri, 09 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268804