https://www.taxtmi.com/caselaws?id=300558 The appeal against the order of the Ld. CIT(A)-III Baroda dated 22-02-2010, involving the addition of Rs. 14,13,600 and interest disallowance of Rs. 13,62,808, was decided in favor of the assessee. The Tribunal upheld the deletion of the addition of Rs. 14,13,600, as the assessee was deemed a developer and not a contractor, making AS-7 inapplicable. Additionally, the interest disallowance of Rs. 13,62,808 was also deleted, as there were no borrowings with payable interest. The Revenue's appeal was dismissed in both instances. en-us Fri, 29 Nov 2013 00:00:00 +0530 Fri, 11 Feb 2022 15:32:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300558 The appeal against the order of the Ld. CIT(A)-III Baroda dated 22-02-2010, involving the addition of Rs. 14,13,600 and interest disallowance of Rs. 13,62,808, was decided in favor of the assessee. The Tribunal upheld the deletion of the addition of Rs. 14,13,600, as the assessee was deemed a developer and not a contractor, making AS-7 inapplicable. Additionally, the interest disallowance of Rs. 13,62,808 was also deleted, as there were no borrowings with payable interest. The Revenue's appeal was dismissed in both instances. Case-Laws Income Tax Fri, 29 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300558