https://www.taxtmi.com/caselaws?id=280835 The Tribunal upheld the disallowance of interest expenditure by the Assessing Officer (AO) and Commissioner of Income Tax (Appeals) [CIT(A)] for an assessee involved in land development, emphasizing compliance with accounting standards. Additionally, the Tribunal remitted the issue of addition under Section 14A read with Rule 8D back to the AO for fresh examination due to new evidence presented by the assessee, allowing for further inquiry and compliance with legal requirements. The Tribunal dismissed the appeals for assessment years 2010-11 and 2012-13 but partly allowed the appeal for the assessment year 2011-12 for statistical purposes. en-us Wed, 27 Jun 2018 00:00:00 +0530 Thu, 23 May 2019 06:32:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280835 The Tribunal upheld the disallowance of interest expenditure by the Assessing Officer (AO) and Commissioner of Income Tax (Appeals) [CIT(A)] for an assessee involved in land development, emphasizing compliance with accounting standards. Additionally, the Tribunal remitted the issue of addition under Section 14A read with Rule 8D back to the AO for fresh examination due to new evidence presented by the assessee, allowing for further inquiry and compliance with legal requirements. The Tribunal dismissed the appeals for assessment years 2010-11 and 2012-13 but partly allowed the appeal for the assessment year 2011-12 for statistical purposes. Case-Laws Income Tax Wed, 27 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280835