https://www.taxtmi.com/caselaws?id=186475 The Tribunal upheld the rejection of the books of account and the trading addition, confirming the decisions of the Assessing Officer (A.O.) and Commissioner of Income Tax (CIT(A)). The disallowance under Section 40(a)(ia) was partly upheld, with the interest paid to India Bulls Bank Ltd. treated as capital expenditure. The assessee's appeal was partly allowed, but the major contentions were dismissed, affirming the lower authorities' findings. en-us Mon, 14 Dec 2015 00:00:00 +0530 Tue, 20 Sep 2016 10:18:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186475 The Tribunal upheld the rejection of the books of account and the trading addition, confirming the decisions of the Assessing Officer (A.O.) and Commissioner of Income Tax (CIT(A)). The disallowance under Section 40(a)(ia) was partly upheld, with the interest paid to India Bulls Bank Ltd. treated as capital expenditure. The assessee's appeal was partly allowed, but the major contentions were dismissed, affirming the lower authorities' findings. Case-Laws Income Tax Mon, 14 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186475