https://www.taxtmi.com/caselaws?id=180843 The Tribunal upheld the decision to allow project expenses, legal expenses, and foreign travel expenses as revenue expenditure, as they were related to the same line of business and met the criteria for allowance. Additionally, the Tribunal ruled in favor of the assessee regarding interest disallowance, stating that interest on borrowed funds used for business purposes should be allowed, even if capitalized in the books of account. The appeal on interest disallowance was dismissed, following the principles established in a Supreme Court case. en-us Tue, 21 Jun 2011 00:00:00 +0530 Sat, 02 Apr 2016 16:17:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180843 The Tribunal upheld the decision to allow project expenses, legal expenses, and foreign travel expenses as revenue expenditure, as they were related to the same line of business and met the criteria for allowance. Additionally, the Tribunal ruled in favor of the assessee regarding interest disallowance, stating that interest on borrowed funds used for business purposes should be allowed, even if capitalized in the books of account. The appeal on interest disallowance was dismissed, following the principles established in a Supreme Court case. Case-Laws Income Tax Tue, 21 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180843