https://www.taxtmi.com/caselaws?id=361593 The Tribunal allowed the assessee's appeals, overturning the lower authorities' decisions and removing the disallowance of interest on unsecured loans for both assessment years. The Tribunal found the assessee's explanations and evidence regarding interest capitalization to be detailed and justified, concluding that the disallowances were unwarranted. The Tribunal highlighted errors in the application of flat interest rates by the Assessing Officer and emphasized the correctness of the interest claimed as revenue expenditure by the assessee, ultimately ruling in favor of the assessee in both instances. en-us Thu, 07 Jun 2018 00:00:00 +0530 Sat, 09 Jun 2018 09:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361593 The Tribunal allowed the assessee's appeals, overturning the lower authorities' decisions and removing the disallowance of interest on unsecured loans for both assessment years. The Tribunal found the assessee's explanations and evidence regarding interest capitalization to be detailed and justified, concluding that the disallowances were unwarranted. The Tribunal highlighted errors in the application of flat interest rates by the Assessing Officer and emphasized the correctness of the interest claimed as revenue expenditure by the assessee, ultimately ruling in favor of the assessee in both instances. Case-Laws Income Tax Thu, 07 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361593