https://www.taxtmi.com/caselaws?id=184209 The ITAT upheld the CIT(A)'s decisions in dismissing the Revenue's appeal on three issues: disallowance of expenses based on precedent, disallowance of interest on interest-free loans to related parties, and disallowance of conversion expenses as capital expenditure. The ITAT found that the Revenue failed to provide evidence to challenge the CIT(A)'s decisions and upheld the reasoning that the expenses were necessary for the business and not capital expenditures. en-us Mon, 08 Sep 2014 00:00:00 +0530 Sat, 02 Jul 2016 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184209 The ITAT upheld the CIT(A)'s decisions in dismissing the Revenue's appeal on three issues: disallowance of expenses based on precedent, disallowance of interest on interest-free loans to related parties, and disallowance of conversion expenses as capital expenditure. The ITAT found that the Revenue failed to provide evidence to challenge the CIT(A)'s decisions and upheld the reasoning that the expenses were necessary for the business and not capital expenditures. Case-Laws Income Tax Mon, 08 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184209