https://www.taxtmi.com/caselaws?id=337689 The Tribunal dismissed the revenue's appeals and allowed the assessee's appeal for AY 2006-07. The disallowance of interest expenses related to capital work-in-progress was deleted, repairs and maintenance expenses were correctly accounted for, and disallowances under Section 14A were adjusted. The Tribunal directed the AO to reconcile information based on AIR data and verify the depreciation claim. Bidding expenses were allowed as revenue expenses, and interest expenditure for AY 2007-08 was found to be for business purposes. Disallowances under Section 14A for AY 2007-08 were restricted. en-us Wed, 11 Jan 2017 00:00:00 +0530 Sat, 14 Jan 2017 07:22:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337689 The Tribunal dismissed the revenue's appeals and allowed the assessee's appeal for AY 2006-07. The disallowance of interest expenses related to capital work-in-progress was deleted, repairs and maintenance expenses were correctly accounted for, and disallowances under Section 14A were adjusted. The Tribunal directed the AO to reconcile information based on AIR data and verify the depreciation claim. Bidding expenses were allowed as revenue expenses, and interest expenditure for AY 2007-08 was found to be for business purposes. Disallowances under Section 14A for AY 2007-08 were restricted. Case-Laws Income Tax Wed, 11 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337689