https://www.taxtmi.com/caselaws?id=287973 The ITAT upheld the decision of the Ld. CIT(A) to allow the capitalization of interest expenses in the absence of business activity during the assessment year. The ITAT dismissed the revenue's appeal, affirming the allowance of interest expenses as capital expenditure, along with administrative expenses for maintaining corporate identity. en-us Wed, 17 Jan 2018 00:00:00 +0530 Wed, 13 May 2020 09:50:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287973 The ITAT upheld the decision of the Ld. CIT(A) to allow the capitalization of interest expenses in the absence of business activity during the assessment year. The ITAT dismissed the revenue's appeal, affirming the allowance of interest expenses as capital expenditure, along with administrative expenses for maintaining corporate identity. Case-Laws Income Tax Wed, 17 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287973