https://www.taxtmi.com/caselaws?id=296460 The Tribunal allowed the assessee's appeal regarding the disallowance of interest under section 36(1)(iii) for capital work in progress and on working capital advance and other expenses for different assessment years. The Tribunal remanded the matter to the Assessing officer for fresh consideration in light of the Supreme Court's decision in 'CIT (LTU) Vs. Reliance Industries Ltd.' The disallowances were found unjustified as the assessee had sufficient own funds to cover the investments and capital advances, leading to the deletion of disallowances made by lower authorities for various expenses. en-us Mon, 22 Apr 2019 00:00:00 +0530 Wed, 21 Jul 2021 21:24:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296460 The Tribunal allowed the assessee's appeal regarding the disallowance of interest under section 36(1)(iii) for capital work in progress and on working capital advance and other expenses for different assessment years. The Tribunal remanded the matter to the Assessing officer for fresh consideration in light of the Supreme Court's decision in 'CIT (LTU) Vs. Reliance Industries Ltd.' The disallowances were found unjustified as the assessee had sufficient own funds to cover the investments and capital advances, leading to the deletion of disallowances made by lower authorities for various expenses. Case-Laws Income Tax Mon, 22 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296460