https://www.taxtmi.com/caselaws?id=414983 The Tribunal ruled in favor of the assessee, overturning the AO's decision to treat a long-term capital loss as a short-term capital gain and disallow interest expenses. The Tribunal held that the assessee's actions were legally permissible and not a tax evasion scheme. Additionally, the Tribunal allowed the deduction under section 80-IB(10), finding that the return was filed within the extended due date and the project completion delay was due to external factors. As a result, the Tribunal upheld the CIT(A)'s decision in favor of the assessee on all grounds. en-us Fri, 17 Sep 2021 00:00:00 +0530 Tue, 23 Nov 2021 06:12:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414983 The Tribunal ruled in favor of the assessee, overturning the AO's decision to treat a long-term capital loss as a short-term capital gain and disallow interest expenses. The Tribunal held that the assessee's actions were legally permissible and not a tax evasion scheme. Additionally, the Tribunal allowed the deduction under section 80-IB(10), finding that the return was filed within the extended due date and the project completion delay was due to external factors. As a result, the Tribunal upheld the CIT(A)'s decision in favor of the assessee on all grounds. Case-Laws Income Tax Fri, 17 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414983