https://www.taxtmi.com/caselaws?id=436590 The Tribunal directed the AO to re-examine the disallowance of interest expenditure claimed by the assessee for AY 2013-14 and AY 2014-15, emphasizing the need to verify the loan entries in the books of accounts. The Tribunal also instructed the deletion of the disallowance of depreciation claim for AY 2014-15, noting that the assets were ready for use despite the temporary halt in business activity. The appeals were allowed for statistical purposes, with the matters remanded to the AO for fresh examination and deletion of the depreciation disallowance. en-us Wed, 02 Nov 2022 00:00:00 +0530 Mon, 17 Apr 2023 08:05:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436590 The Tribunal directed the AO to re-examine the disallowance of interest expenditure claimed by the assessee for AY 2013-14 and AY 2014-15, emphasizing the need to verify the loan entries in the books of accounts. The Tribunal also instructed the deletion of the disallowance of depreciation claim for AY 2014-15, noting that the assets were ready for use despite the temporary halt in business activity. The appeals were allowed for statistical purposes, with the matters remanded to the AO for fresh examination and deletion of the depreciation disallowance. Case-Laws Income Tax Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436590