https://www.taxtmi.com/caselaws?id=304587 The Tribunal upheld the CIT(A)'s decisions to delete disallowances on proportionate interest to subsidiary/group companies, interest on share application money, and notional gain on foreign exchange deposit. The Tribunal also allowed deductions for meals supplied to foreign airlines, expenditure on replacement of carpets and linen. However, the Tribunal set aside the cancellation of interest levied by the AO under section 234D and deleted the addition of interest capitalized as income. The Revenue's appeals for various assessment years were dismissed except for one partially allowed appeal for the year 2001-02. The assessee's appeal for 1994-95 was partially allowed. en-us Fri, 23 Nov 2012 00:00:00 +0530 Fri, 07 Oct 2022 19:08:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304587 The Tribunal upheld the CIT(A)'s decisions to delete disallowances on proportionate interest to subsidiary/group companies, interest on share application money, and notional gain on foreign exchange deposit. The Tribunal also allowed deductions for meals supplied to foreign airlines, expenditure on replacement of carpets and linen. However, the Tribunal set aside the cancellation of interest levied by the AO under section 234D and deleted the addition of interest capitalized as income. The Revenue's appeals for various assessment years were dismissed except for one partially allowed appeal for the year 2001-02. The assessee's appeal for 1994-95 was partially allowed. Case-Laws Income Tax Fri, 23 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304587