https://www.taxtmi.com/caselaws?id=190776 The Tribunal allowed the appeal, ruling that the business expenditure should not be treated as Work-in-Progress (WIP) and the interest income should be classified as business income. The Tribunal found the assessee's accounting method in line with Accounting Standards and relevant legal provisions, overturning the lower authorities' decisions. The interest income was to be assessed as business income based on a precedent set by the Bombay High Court. The Tribunal's decision was supported by consistent accounting practices and judicial precedents. en-us Wed, 30 Dec 2015 00:00:00 +0530 Mon, 27 Feb 2017 10:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190776 The Tribunal allowed the appeal, ruling that the business expenditure should not be treated as Work-in-Progress (WIP) and the interest income should be classified as business income. The Tribunal found the assessee's accounting method in line with Accounting Standards and relevant legal provisions, overturning the lower authorities' decisions. The interest income was to be assessed as business income based on a precedent set by the Bombay High Court. The Tribunal's decision was supported by consistent accounting practices and judicial precedents. Case-Laws Income Tax Wed, 30 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190776