https://www.taxtmi.com/caselaws?id=290455 The Tribunal dismissed the revenue appeal (ITA NO.6228/Mum/2018) as not maintainable based on a CBDT Circular directing withdrawal of appeals for tax disputes below Rs. 50,00,000. The revenue may seek exceptions with evidence for a recall. In the assessee's appeal (ITA No.5839/Mum/2018), the Tribunal allowed the appeal, directing the Assessing Officer to delete the disallowed interest deduction of Rs. 2,19,69,050, as the borrowed funds were utilized as per court directions and for legitimate purposes, not warranting imposition of notional interest liability. en-us Wed, 27 Nov 2019 00:00:00 +0530 Mon, 17 May 2021 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290455 The Tribunal dismissed the revenue appeal (ITA NO.6228/Mum/2018) as not maintainable based on a CBDT Circular directing withdrawal of appeals for tax disputes below Rs. 50,00,000. The revenue may seek exceptions with evidence for a recall. In the assessee's appeal (ITA No.5839/Mum/2018), the Tribunal allowed the appeal, directing the Assessing Officer to delete the disallowed interest deduction of Rs. 2,19,69,050, as the borrowed funds were utilized as per court directions and for legitimate purposes, not warranting imposition of notional interest liability. Case-Laws Income Tax Wed, 27 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290455