https://www.taxtmi.com/caselaws?id=361624 The Income Tax Appellate Tribunal upheld the Commissioner's decision to partially disallow interest paid on loans by a construction company, emphasizing the loans' varied usage beyond construction. The Court dismissed the appeal, ruling that no question of law arose, highlighting the significance of factual findings in tax assessments and the distinction between legal and factual matters. The judgment clarifies the application of accounting standards in determining taxable income and provides guidance for future appeals on similar grounds. en-us Wed, 28 Feb 2018 00:00:00 +0530 Sat, 09 Jun 2018 18:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361624 The Income Tax Appellate Tribunal upheld the Commissioner's decision to partially disallow interest paid on loans by a construction company, emphasizing the loans' varied usage beyond construction. The Court dismissed the appeal, ruling that no question of law arose, highlighting the significance of factual findings in tax assessments and the distinction between legal and factual matters. The judgment clarifies the application of accounting standards in determining taxable income and provides guidance for future appeals on similar grounds. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361624