https://www.taxtmi.com/caselaws?id=353545 The Tribunal ruled in favor of the assessee, finding the reassessment invalid due to the lack of nexus between interest debited and borrowed funds for construction. Additionally, the Tribunal deleted the additions made for non-capitalization of interest and expenses on the mixer machine, as there was insufficient evidence to support the AO's claims. The disallowance of exhibition expenses under section 40(a)(ia) was also overturned, emphasizing the need for clear disclosure and justification for additions during assessments. en-us Mon, 09 Oct 2017 00:00:00 +0530 Sun, 07 Jan 2018 08:39:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353545 The Tribunal ruled in favor of the assessee, finding the reassessment invalid due to the lack of nexus between interest debited and borrowed funds for construction. Additionally, the Tribunal deleted the additions made for non-capitalization of interest and expenses on the mixer machine, as there was insufficient evidence to support the AO's claims. The disallowance of exhibition expenses under section 40(a)(ia) was also overturned, emphasizing the need for clear disclosure and justification for additions during assessments. Case-Laws Income Tax Mon, 09 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353545