https://www.taxtmi.com/caselaws?id=380546 The Court held that the interest expenditure of the Assessee, related to Real Estate business, was capital in nature and not deductible for tax purposes as the projects had not generated income. The Court emphasized that deduction eligibility depended on asset utilization, overriding accounting methods. The Appeals were dismissed, affirming the importance of complying with statutory provisions for tax deductions. en-us Mon, 22 Apr 2019 00:00:00 +0530 Wed, 25 Sep 2019 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380546 The Court held that the interest expenditure of the Assessee, related to Real Estate business, was capital in nature and not deductible for tax purposes as the projects had not generated income. The Court emphasized that deduction eligibility depended on asset utilization, overriding accounting methods. The Appeals were dismissed, affirming the importance of complying with statutory provisions for tax deductions. Case-Laws Income Tax Mon, 22 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380546