https://www.taxtmi.com/caselaws?id=345094 The assessee's appeal was partly allowed, with the disallowance of professional fees dismissed. The disallowance of interest on capital borrowed for work-in-progress was partly upheld and partly deleted. The disallowance of proportionate interest on funds used for loan repayment was mostly upheld, with minor exclusions. The disallowance of interest on term loan repayment from Axis Bank was largely upheld, with some exclusions. The Revenue's appeal was dismissed due to low tax effect. en-us Mon, 06 Mar 2017 00:00:00 +0530 Sat, 08 Jul 2017 07:41:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345094 The assessee's appeal was partly allowed, with the disallowance of professional fees dismissed. The disallowance of interest on capital borrowed for work-in-progress was partly upheld and partly deleted. The disallowance of proportionate interest on funds used for loan repayment was mostly upheld, with minor exclusions. The disallowance of interest on term loan repayment from Axis Bank was largely upheld, with some exclusions. The Revenue's appeal was dismissed due to low tax effect. Case-Laws Income Tax Mon, 06 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345094