https://www.taxtmi.com/caselaws?id=290856 The Tribunal allowed the appeal, overturning the disallowance of interest expenditure amounting to Rs. 34,76,144. It found that the assessee had sufficiently demonstrated the nexus between the borrowed funds and the investment in capital assets, emphasizing that the interest expenditure should be capitalized for computing capital gains. The Tribunal criticized the Revenue authorities for failing to appreciate the details correctly and concluded that the assessee's position was justified. The appeal was allowed on 30th April 2019. en-us Tue, 30 Apr 2019 00:00:00 +0530 Mon, 19 Oct 2020 20:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290856 The Tribunal allowed the appeal, overturning the disallowance of interest expenditure amounting to Rs. 34,76,144. It found that the assessee had sufficiently demonstrated the nexus between the borrowed funds and the investment in capital assets, emphasizing that the interest expenditure should be capitalized for computing capital gains. The Tribunal criticized the Revenue authorities for failing to appreciate the details correctly and concluded that the assessee's position was justified. The appeal was allowed on 30th April 2019. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290856