https://www.taxtmi.com/caselaws?id=397495 The Tribunal ruled in favor of the assessee for Assessment Years 2007-08 and 2008-09, allowing interest and administrative expenditures as business expenditures and classifying interest income as business income. For Assessment Year 2009-10, the Tribunal upheld the CIT(A)'s decision, allowing the set off of interest income against interest expenditure as the business had commenced. The decision aligned with earlier rulings for the assessee's case in Assessment Year 2006-07, providing a comprehensive resolution of the issues. en-us Tue, 18 Aug 2020 00:00:00 +0530 Thu, 20 Aug 2020 11:08:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397495 The Tribunal ruled in favor of the assessee for Assessment Years 2007-08 and 2008-09, allowing interest and administrative expenditures as business expenditures and classifying interest income as business income. For Assessment Year 2009-10, the Tribunal upheld the CIT(A)'s decision, allowing the set off of interest income against interest expenditure as the business had commenced. The decision aligned with earlier rulings for the assessee's case in Assessment Year 2006-07, providing a comprehensive resolution of the issues. Case-Laws Income Tax Tue, 18 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397495