https://www.taxtmi.com/caselaws?id=301431 The Tribunal upheld the Commissioner's decision in favor of the assessee, ruling that interest on the loan from the Government of Tamilnadu was not subject to sec.43B. Additionally, the Tribunal directed the Assessing Officer to recompute the assessment, allowing the assessee's appeal regarding the set off of brought forward losses under sec.72 and sec.80P. The Tribunal dismissed the Revenue's appeal and emphasized the correct application of the relevant provisions. The orders were pronounced on December 14, 2012, at Chennai. en-us Fri, 14 Dec 2012 00:00:00 +0530 Mon, 04 Apr 2022 18:25:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301431 The Tribunal upheld the Commissioner's decision in favor of the assessee, ruling that interest on the loan from the Government of Tamilnadu was not subject to sec.43B. Additionally, the Tribunal directed the Assessing Officer to recompute the assessment, allowing the assessee's appeal regarding the set off of brought forward losses under sec.72 and sec.80P. The Tribunal dismissed the Revenue's appeal and emphasized the correct application of the relevant provisions. The orders were pronounced on December 14, 2012, at Chennai. Case-Laws Income Tax Fri, 14 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301431