https://www.taxtmi.com/caselaws?id=197355 The Tribunal allowed the appeal, overturning the disallowance of interest expenditure in the Soda Ash and LAB Front End divisions. It held that the expenditures were revenue in nature, accrued during the year, and were for the expansion of the existing business. The Tribunal emphasized that the issuance of Secured Premium Notes was genuine and for business purposes, rejecting claims of benefiting promoters. Despite procedural issues, the Tribunal ruled in favor of the assessee, emphasizing adherence to legal and factual considerations. en-us Thu, 04 May 2017 00:00:00 +0530 Thu, 04 Jan 2018 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197355 The Tribunal allowed the appeal, overturning the disallowance of interest expenditure in the Soda Ash and LAB Front End divisions. It held that the expenditures were revenue in nature, accrued during the year, and were for the expansion of the existing business. The Tribunal emphasized that the issuance of Secured Premium Notes was genuine and for business purposes, rejecting claims of benefiting promoters. Despite procedural issues, the Tribunal ruled in favor of the assessee, emphasizing adherence to legal and factual considerations. Case-Laws Income Tax Thu, 04 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197355