https://www.taxtmi.com/caselaws?id=384646 The Tribunal upheld the validity of the assessment orders but ruled in favor of the assessee regarding the treatment of interest paid on FCCDs as business expenditure rather than capital expenditure. It held that the interest income should reduce the capital work-in-progress and expenses should be capitalized accordingly. The decision was issued on 26.07.2019. en-us Fri, 26 Jul 2019 00:00:00 +0530 Mon, 19 Aug 2019 17:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384646 The Tribunal upheld the validity of the assessment orders but ruled in favor of the assessee regarding the treatment of interest paid on FCCDs as business expenditure rather than capital expenditure. It held that the interest income should reduce the capital work-in-progress and expenses should be capitalized accordingly. The decision was issued on 26.07.2019. Case-Laws Income Tax Fri, 26 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384646