https://www.taxtmi.com/caselaws?id=463582 ITAT, Pune held that expenditure on construction of a temporary canteen shed on the factory terrace was revenue in nature and not of enduring benefit, overturning CIT(A) and directing AO to allow the deduction under s.37. The Tribunal also rejected disallowance of interest under s.36(1)(iii) in respect of interest-free advances for investment in a joint-venture, finding no evidence interest-bearing funds financed those advances and therefore no part of interest expense was attributable to them. Grounds of appeal allowed. en-us Mon, 27 Oct 2014 00:00:00 +0530 Mon, 08 Sep 2025 13:36:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463582 ITAT, Pune held that expenditure on construction of a temporary canteen shed on the factory terrace was revenue in nature and not of enduring benefit, overturning CIT(A) and directing AO to allow the deduction under s.37. The Tribunal also rejected disallowance of interest under s.36(1)(iii) in respect of interest-free advances for investment in a joint-venture, finding no evidence interest-bearing funds financed those advances and therefore no part of interest expense was attributable to them. Grounds of appeal allowed. Case-Laws Income Tax Mon, 27 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463582