https://www.taxtmi.com/caselaws?id=271383 The tribunal allowed the appeal in favor of the assessee regarding the disallowance of interest expenditure under section 43B of the Income Tax Act. It directed a reevaluation by the AO to determine if the entity qualified as a financial institution. Additionally, the tribunal ruled in favor of the assessee regarding the repairs expenditure of Studio No.3, considering it as revenue expenditure and not capital. Similarly, the tribunal allowed the claim for road repairs expenses as revenue expenditure, stating it was for maintenance of existing assets. en-us Wed, 06 Jan 2016 00:00:00 +0530 Wed, 03 Feb 2016 06:52:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271383 The tribunal allowed the appeal in favor of the assessee regarding the disallowance of interest expenditure under section 43B of the Income Tax Act. It directed a reevaluation by the AO to determine if the entity qualified as a financial institution. Additionally, the tribunal ruled in favor of the assessee regarding the repairs expenditure of Studio No.3, considering it as revenue expenditure and not capital. Similarly, the tribunal allowed the claim for road repairs expenses as revenue expenditure, stating it was for maintenance of existing assets. Case-Laws Income Tax Wed, 06 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271383