https://www.taxtmi.com/caselaws?id=356363 The Tribunal allowed the appeal of the assessee, determining that expenses during the temporary suspension of business are revenue expenditure under section 37(1) of the Income Tax Act. Additionally, interest expenses on borrowed capital for acquiring controlling interest in another company and business loans are deductible under section 36(1)(iii) of the Act. The Tribunal dismissed the revenue's appeal and instructed the Assessing Officer to verify and allow genuine claims. en-us Mon, 26 Feb 2018 00:00:00 +0530 Mon, 05 Mar 2018 07:13:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356363 The Tribunal allowed the appeal of the assessee, determining that expenses during the temporary suspension of business are revenue expenditure under section 37(1) of the Income Tax Act. Additionally, interest expenses on borrowed capital for acquiring controlling interest in another company and business loans are deductible under section 36(1)(iii) of the Act. The Tribunal dismissed the revenue's appeal and instructed the Assessing Officer to verify and allow genuine claims. Case-Laws Income Tax Mon, 26 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356363