https://www.taxtmi.com/caselaws?id=193293 The Tribunal dismissed the Revenue's appeals concerning disallowance of interest expenses for assessment years 2006-2007 and 2007-2008. The appeals were rejected due to the tax effect falling below the CBDT's prescribed limit for filing appeals before the Tribunal. The Tribunal upheld the deletion of interest expenses based on previous rulings and the application of revised Instructions by CBDT. Additionally, the valuation of closing work-in-progress, excluding the interest component, was affirmed in line with Accounting Standards. en-us Fri, 05 Jun 2015 00:00:00 +0530 Sat, 22 Jul 2017 10:38:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193293 The Tribunal dismissed the Revenue's appeals concerning disallowance of interest expenses for assessment years 2006-2007 and 2007-2008. The appeals were rejected due to the tax effect falling below the CBDT's prescribed limit for filing appeals before the Tribunal. The Tribunal upheld the deletion of interest expenses based on previous rulings and the application of revised Instructions by CBDT. Additionally, the valuation of closing work-in-progress, excluding the interest component, was affirmed in line with Accounting Standards. Case-Laws Income Tax Fri, 05 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193293