https://www.taxtmi.com/caselaws?id=440094 The case involved the disallowance of interest claimed in Profit and Loss Account and capitalizing it in inventory of work-in-progress for assessment years 2012-13 and 2013-14. The Tribunal remanded the matter to the AO for both years to determine the nature of interest expense and its allowability based on revenue recognition principles, directing a re-examination of the interest expenses. en-us Wed, 26 Apr 2023 00:00:00 +0530 Sat, 08 Jul 2023 13:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440094 The case involved the disallowance of interest claimed in Profit and Loss Account and capitalizing it in inventory of work-in-progress for assessment years 2012-13 and 2013-14. The Tribunal remanded the matter to the AO for both years to determine the nature of interest expense and its allowability based on revenue recognition principles, directing a re-examination of the interest expenses. Case-Laws Income Tax Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440094