https://www.taxtmi.com/caselaws?id=281772 The High Court considered the validity of the Income Tax Appellate Tribunal's decision affirming the deletion of disallowance under Section 80-IA. The court assessed the entitlement of the assessee to set off interest paid on borrowed funds against interest income earned and decided not to frame a substantial question of law on the method of accounting for goods at the port. The Tribunal's finding that the goods were stock in hand and could be valued based on the assessee's practice was upheld. The parties were granted time to submit relevant documents, and the case was categorized as a 'Regular Matter' for further proceedings. en-us Wed, 29 Aug 2018 00:00:00 +0530 Sat, 06 Jul 2019 07:00:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281772 The High Court considered the validity of the Income Tax Appellate Tribunal's decision affirming the deletion of disallowance under Section 80-IA. The court assessed the entitlement of the assessee to set off interest paid on borrowed funds against interest income earned and decided not to frame a substantial question of law on the method of accounting for goods at the port. The Tribunal's finding that the goods were stock in hand and could be valued based on the assessee's practice was upheld. The parties were granted time to submit relevant documents, and the case was categorized as a 'Regular Matter' for further proceedings. Case-Laws Income Tax Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281772