https://www.taxtmi.com/caselaws?id=397423 ITAT upheld the CIT(A)'s allowance of interest expenditure, holding ancillary borrowing costs (brokerage, processing, registration, stamp duty) as revenue expenses deductible, and treating interest on borrowings for inventory as allowable under section 36(1)(iii). The tribunal found no contrary HC/SC precedent and declined to disturb CIT(A)'s fresh plea consideration. Regarding section 14A, ITAT agreed there was no exempt income in the relevant years, so s.14A did not apply. Revenue's appeal was dismissed. en-us Fri, 14 Aug 2020 00:00:00 +0530 Fri, 22 Aug 2025 22:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397423 ITAT upheld the CIT(A)'s allowance of interest expenditure, holding ancillary borrowing costs (brokerage, processing, registration, stamp duty) as revenue expenses deductible, and treating interest on borrowings for inventory as allowable under section 36(1)(iii). The tribunal found no contrary HC/SC precedent and declined to disturb CIT(A)'s fresh plea consideration. Regarding section 14A, ITAT agreed there was no exempt income in the relevant years, so s.14A did not apply. Revenue's appeal was dismissed. Case-Laws Income Tax Fri, 14 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397423