https://www.taxtmi.com/caselaws?id=328171 The High Court upheld the Tribunal's decision to delete the disallowance of interest on capital work in progress made by the Assessing Officer. The Court found that no interest-bearing funds were utilized for the investment, and no fresh loans were taken during the relevant period. The Revenue failed to provide evidence to counter the assessee's claim. The Court dismissed the appeals by the Revenue, concluding that there was no merit in disallowing the interest attributable to the investment in the capital work in progress. en-us Thu, 05 May 2016 00:00:00 +0530 Fri, 27 May 2016 10:30:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328171 The High Court upheld the Tribunal's decision to delete the disallowance of interest on capital work in progress made by the Assessing Officer. The Court found that no interest-bearing funds were utilized for the investment, and no fresh loans were taken during the relevant period. The Revenue failed to provide evidence to counter the assessee's claim. The Court dismissed the appeals by the Revenue, concluding that there was no merit in disallowing the interest attributable to the investment in the capital work in progress. Case-Laws Income Tax Thu, 05 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328171