https://www.taxtmi.com/caselaws?id=418983 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s order on all three issues. The expenses for road construction were deemed allowable as they facilitated business operations. The disallowance of excess interest was deleted as the assessee had correctly accounted for interest based on cash expenditure. The CSR-related expenses were allowed as they were incurred for business purposes and not mandated by the Companies Act due to the company's loss during the year. en-us Thu, 17 Feb 2022 00:00:00 +0530 Tue, 01 Mar 2022 08:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418983 The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s order on all three issues. The expenses for road construction were deemed allowable as they facilitated business operations. The disallowance of excess interest was deleted as the assessee had correctly accounted for interest based on cash expenditure. The CSR-related expenses were allowed as they were incurred for business purposes and not mandated by the Companies Act due to the company's loss during the year. Case-Laws Income Tax Thu, 17 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418983