https://www.taxtmi.com/caselaws?id=311984 The Tribunal addressed appeals by the revenue concerning disallowances for the assessment years 2007-08 and 2008-09. For 2007-08, the Tribunal remanded the issue of capital expenditure on repairs to Ld. CIT(A) for reevaluation, upheld the deletion of interest cost disallowance on advances due to lack of direct nexus, and found Rule 8D inapplicable, partially allowing the revenue's appeal. For 2008-09, the Tribunal similarly remanded the capital expenditure issue and rejected the interest cost disallowance on advances to a sister concern. Both appeals were partly allowed for statistical purposes. en-us Fri, 08 Mar 2013 00:00:00 +0530 Thu, 25 Jan 2024 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311984 The Tribunal addressed appeals by the revenue concerning disallowances for the assessment years 2007-08 and 2008-09. For 2007-08, the Tribunal remanded the issue of capital expenditure on repairs to Ld. CIT(A) for reevaluation, upheld the deletion of interest cost disallowance on advances due to lack of direct nexus, and found Rule 8D inapplicable, partially allowing the revenue's appeal. For 2008-09, the Tribunal similarly remanded the capital expenditure issue and rejected the interest cost disallowance on advances to a sister concern. Both appeals were partly allowed for statistical purposes. Case-Laws Income Tax Fri, 08 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311984