https://www.taxtmi.com/caselaws?id=59598 The Tribunal allowed the deduction of Rs. 1.32 crores claimed as project expenses, finding them genuine and for business purposes. However, the disallowance of Rs. 22,66,010 related to interest payments was upheld due to discrepancies in the utilization of interest-bearing loans for business purposes. The assessee's appeal was partly allowed, with the Tribunal ruling in favor of the assessee on the project expenses but upholding the disallowance of interest payments. en-us Thu, 11 Dec 2003 00:00:00 +0530 Fri, 15 Jun 2012 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59598 The Tribunal allowed the deduction of Rs. 1.32 crores claimed as project expenses, finding them genuine and for business purposes. However, the disallowance of Rs. 22,66,010 related to interest payments was upheld due to discrepancies in the utilization of interest-bearing loans for business purposes. The assessee's appeal was partly allowed, with the Tribunal ruling in favor of the assessee on the project expenses but upholding the disallowance of interest payments. Case-Laws Income Tax Thu, 11 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59598