https://www.taxtmi.com/caselaws?id=281411 The ITAT found that the CIT(A) exceeded his powers by setting aside the order for verification post the amendment in Section 251(1). The matter was restored to the CIT(A) for proper determination regarding the interest claimed as expenditure and the nature of the loan for the capital waiver. The ITAT directed the CIT(A) to re-examine the issues in light of relevant court decisions. Both the assessee and revenue appeals were allowed for statistical purposes. en-us Fri, 22 Jun 2012 00:00:00 +0530 Tue, 18 Jun 2019 17:06:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281411 The ITAT found that the CIT(A) exceeded his powers by setting aside the order for verification post the amendment in Section 251(1). The matter was restored to the CIT(A) for proper determination regarding the interest claimed as expenditure and the nature of the loan for the capital waiver. The ITAT directed the CIT(A) to re-examine the issues in light of relevant court decisions. Both the assessee and revenue appeals were allowed for statistical purposes. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281411