https://www.taxtmi.com/caselaws?id=379386 The High Court upheld the Tribunal's decision that the new unit set up in Haryana for manufacturing door frames was not an expansion of the existing business. Consequently, interest on borrowings for the new unit was not allowed as a deduction since production had not commenced. The Court also found that Section 14A applied, allowing the Assessing Officer to disallow expenditure related to exempt income. The Assessee's appeal was dismissed, with no costs awarded. en-us Thu, 21 Mar 2019 00:00:00 +0530 Wed, 01 May 2019 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379386 The High Court upheld the Tribunal's decision that the new unit set up in Haryana for manufacturing door frames was not an expansion of the existing business. Consequently, interest on borrowings for the new unit was not allowed as a deduction since production had not commenced. The Court also found that Section 14A applied, allowing the Assessing Officer to disallow expenditure related to exempt income. The Assessee's appeal was dismissed, with no costs awarded. Case-Laws Income Tax Thu, 21 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379386