https://www.taxtmi.com/caselaws?id=432780 The Tribunal allowed the assessee's appeal partially, directing the Assessing Officer to delete the addition made for disallowance of interest expenses under section 57 of the Income Tax Act, 1961. The Tribunal found that the interest expenses were revenue in nature, not capital, and noted discrepancies in the AO's approach. It concluded that the interest expense should be allowed as a deduction, favoring the assessee based on the evidence presented. Other issues raised were dismissed as either consequential or premature to decide. en-us Wed, 11 Jan 2023 00:00:00 +0530 Tue, 18 Apr 2023 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432780 The Tribunal allowed the assessee's appeal partially, directing the Assessing Officer to delete the addition made for disallowance of interest expenses under section 57 of the Income Tax Act, 1961. The Tribunal found that the interest expenses were revenue in nature, not capital, and noted discrepancies in the AO's approach. It concluded that the interest expense should be allowed as a deduction, favoring the assessee based on the evidence presented. Other issues raised were dismissed as either consequential or premature to decide. Case-Laws Income Tax Wed, 11 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432780