https://www.taxtmi.com/caselaws?id=20643 The court affirmed the disallowance of expenditure for boring a tube well as capital expenditure, emphasizing the creation of an enduring asset. Regarding the charging of interest under section 216, the court held that the Income-tax Officer must provide specific reasons and findings for such levy, which was lacking in this case. The court ruled in favor of the Revenue for the expenditure issue and in favor of the assessee for the interest charge, directing a fresh order with proper justification. en-us Thu, 04 Feb 1993 00:00:00 +0530 Mon, 16 Nov 2009 12:51:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20643 The court affirmed the disallowance of expenditure for boring a tube well as capital expenditure, emphasizing the creation of an enduring asset. Regarding the charging of interest under section 216, the court held that the Income-tax Officer must provide specific reasons and findings for such levy, which was lacking in this case. The court ruled in favor of the Revenue for the expenditure issue and in favor of the assessee for the interest charge, directing a fresh order with proper justification. Case-Laws Income Tax Thu, 04 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20643