https://www.taxtmi.com/caselaws?id=446090 Comparable flat-sale rates must reflect unit-specific differences in area, location and accessibility, so the highest rate cannot be mechanically applied without corroborative material; the weighted average rate, with exclusion of a non-comparable shop-cum-garage unit, was the proper basis. Expenditure incurred after the occupation certificate on maintenance, defect-liability, housekeeping and allied works was not disallowable where its genuineness was not doubted and no material showed it was fictitious or prohibited. Interest disallowance for advances to a sister concern must be confined proportionately to the actual diversion of borrowed funds. The proviso reducing disallowance under section 40(a)(ia) to 30% was held to operate prospectively and not for the year in question. en-us Fri, 25 Aug 2023 00:00:00 +0530 Sat, 25 Nov 2023 06:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446090 Comparable flat-sale rates must reflect unit-specific differences in area, location and accessibility, so the highest rate cannot be mechanically applied without corroborative material; the weighted average rate, with exclusion of a non-comparable shop-cum-garage unit, was the proper basis. Expenditure incurred after the occupation certificate on maintenance, defect-liability, housekeeping and allied works was not disallowable where its genuineness was not doubted and no material showed it was fictitious or prohibited. Interest disallowance for advances to a sister concern must be confined proportionately to the actual diversion of borrowed funds. The proviso reducing disallowance under section 40(a)(ia) to 30% was held to operate prospectively and not for the year in question. Case-Laws Income Tax Fri, 25 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446090