https://www.taxtmi.com/caselaws?id=188872 The Tribunal partially allowed the appeals, directing the Assessing Officer (AO) to verify and recompute disallowance under section 36(1)(iii) for interest on borrowed funds based on the availability of state capital investment subsidy. The addition of deemed dividend under section 2(22)(e) was upheld, with adjustments to accumulated profits as per relevant laws. An addition for excess steel consumption was confirmed, with the allowance of telescoping benefit for excess stock in a previous assessment year. Similar issues in subsequent years were also referred back to the AO for recomputation. en-us Tue, 19 Mar 2013 00:00:00 +0530 Mon, 19 Dec 2016 15:10:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188872 The Tribunal partially allowed the appeals, directing the Assessing Officer (AO) to verify and recompute disallowance under section 36(1)(iii) for interest on borrowed funds based on the availability of state capital investment subsidy. The addition of deemed dividend under section 2(22)(e) was upheld, with adjustments to accumulated profits as per relevant laws. An addition for excess steel consumption was confirmed, with the allowance of telescoping benefit for excess stock in a previous assessment year. Similar issues in subsequent years were also referred back to the AO for recomputation. Case-Laws Income Tax Tue, 19 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188872