https://www.taxtmi.com/caselaws?id=327991 The Appellate Tribunal ITAT Ahmedabad addressed disallowance of expenses in Textile and Power Divisions. It upheld some disallowances but reduced others, partially allowing the assessee's appeal in both divisions. The Tribunal differentiated expenses pre and post-conversion for the Textile Division, reducing disallowances for CA fees and bank loan interest. In the Power Division, it rejected the disallowance of interest on term loan but allowed preliminary expenses related to company incorporation. The judgment provided a detailed analysis of expenses and legal provisions under the Income-tax Act, 1961. en-us Thu, 19 May 2016 00:00:00 +0530 Tue, 24 May 2016 10:31:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327991 The Appellate Tribunal ITAT Ahmedabad addressed disallowance of expenses in Textile and Power Divisions. It upheld some disallowances but reduced others, partially allowing the assessee's appeal in both divisions. The Tribunal differentiated expenses pre and post-conversion for the Textile Division, reducing disallowances for CA fees and bank loan interest. In the Power Division, it rejected the disallowance of interest on term loan but allowed preliminary expenses related to company incorporation. The judgment provided a detailed analysis of expenses and legal provisions under the Income-tax Act, 1961. Case-Laws Income Tax Thu, 19 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327991