https://www.taxtmi.com/caselaws?id=440220 The appeals arose from the Commissioner of Income-tax's order concerning the capitalization of interest costs for the acquisition of investments in a subsidiary. The Tribunal held in favor of the appellant, allowing the capitalization of interest as per Accounting Standard 16. It was noted that no taxable event was adversely affected by the capitalization during the relevant years. The Tribunal granted partial relief to the appellant, reserving the Revenue's right to assess the issue in years with taxable events related to the cost of acquisition. An additional ground raised by the assessee regarding the allowance of entire interest as expenditure was dismissed due to lack of arguments presented. en-us Fri, 02 Jun 2023 00:00:00 +0530 Thu, 13 Jul 2023 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440220 The appeals arose from the Commissioner of Income-tax's order concerning the capitalization of interest costs for the acquisition of investments in a subsidiary. The Tribunal held in favor of the appellant, allowing the capitalization of interest as per Accounting Standard 16. It was noted that no taxable event was adversely affected by the capitalization during the relevant years. The Tribunal granted partial relief to the appellant, reserving the Revenue's right to assess the issue in years with taxable events related to the cost of acquisition. An additional ground raised by the assessee regarding the allowance of entire interest as expenditure was dismissed due to lack of arguments presented. Case-Laws Income Tax Fri, 02 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440220