https://www.taxtmi.com/caselaws?id=358583 The Appellate Tribunal allowed the appeals of the assessee, ruling in favor of the assessee regarding the disallowance of interest payments for A.Y. 2010-11, 2011-12, and 2012-13. The Tribunal found that the interest paid by the assessee, added to work in progress and not claimed as expenditure, should not have been added to the income of the assessee. Emphasizing the regular course of the assessee's business as a builder, the Tribunal considered the borrowing and advancing of money for projects as integral to the business, overturning the disallowance based on legal principles and precedents cited. en-us Mon, 19 Mar 2018 00:00:00 +0530 Sat, 14 Apr 2018 07:17:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358583 The Appellate Tribunal allowed the appeals of the assessee, ruling in favor of the assessee regarding the disallowance of interest payments for A.Y. 2010-11, 2011-12, and 2012-13. The Tribunal found that the interest paid by the assessee, added to work in progress and not claimed as expenditure, should not have been added to the income of the assessee. Emphasizing the regular course of the assessee's business as a builder, the Tribunal considered the borrowing and advancing of money for projects as integral to the business, overturning the disallowance based on legal principles and precedents cited. Case-Laws Income Tax Mon, 19 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358583