https://www.taxtmi.com/caselaws?id=192234 The Appellate Tribunal ITAT Chandigarh dismissed the Revenue's appeal, ruling in favor of the assessee for the assessment year 2007-08. The Tribunal upheld the CIT (Appeals) decisions regarding the deletion of addition under section 36(1)(iii) of the Income Tax Act, emphasizing no borrowings were made for the capital work-in-progress, and the disallowance of interest payment under section 40(a)(ia) of the Act, as the payment was made to the bank and not subject to TDS. en-us Thu, 24 May 2012 00:00:00 +0530 Mon, 19 Jun 2017 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192234 The Appellate Tribunal ITAT Chandigarh dismissed the Revenue's appeal, ruling in favor of the assessee for the assessment year 2007-08. The Tribunal upheld the CIT (Appeals) decisions regarding the deletion of addition under section 36(1)(iii) of the Income Tax Act, emphasizing no borrowings were made for the capital work-in-progress, and the disallowance of interest payment under section 40(a)(ia) of the Act, as the payment was made to the bank and not subject to TDS. Case-Laws Income Tax Thu, 24 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192234