https://www.taxtmi.com/caselaws?id=347886 The Income Tax Appellate Tribunal (ITAT) allowed the appeal of the assessee in a case involving disallowance of interest paid to banks for business purposes and deduction claimed under section 80IA(4) of the Income Tax Act. The ITAT held that the interest expenditure was related to business use and allowed the deduction. It also ruled that the assessee's activities qualified as developing infrastructure facilities, directing the Assessing Officer to allow the deduction under section 80IA(4) for the specified period. The ITAT's decision favored the assessee on all contested issues, pronounced on 18/08/2017. en-us Fri, 18 Aug 2017 00:00:00 +0530 Wed, 13 Sep 2017 08:18:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347886 The Income Tax Appellate Tribunal (ITAT) allowed the appeal of the assessee in a case involving disallowance of interest paid to banks for business purposes and deduction claimed under section 80IA(4) of the Income Tax Act. The ITAT held that the interest expenditure was related to business use and allowed the deduction. It also ruled that the assessee's activities qualified as developing infrastructure facilities, directing the Assessing Officer to allow the deduction under section 80IA(4) for the specified period. The ITAT's decision favored the assessee on all contested issues, pronounced on 18/08/2017. Case-Laws Income Tax Fri, 18 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347886