https://www.taxtmi.com/caselaws?id=418833 The Tribunal partially allowed the appeal against the Commissioner of Income Tax (Appeals)'s order enhancing the assessment for the assessment year 2012-13. It upheld the disallowance of professional and legal charges related to property acquisition but disagreed with the treatment of interest on bank deposits, ruling it was linked to the business setup and should be reduced from the project cost. The Tribunal found the appellant had commenced business during the assessment year based on land acquisitions and planning permit applications. en-us Mon, 24 Jan 2022 00:00:00 +0530 Fri, 25 Feb 2022 08:34:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418833 The Tribunal partially allowed the appeal against the Commissioner of Income Tax (Appeals)'s order enhancing the assessment for the assessment year 2012-13. It upheld the disallowance of professional and legal charges related to property acquisition but disagreed with the treatment of interest on bank deposits, ruling it was linked to the business setup and should be reduced from the project cost. The Tribunal found the appellant had commenced business during the assessment year based on land acquisitions and planning permit applications. Case-Laws Income Tax Mon, 24 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418833