https://www.taxtmi.com/caselaws?id=59901 The Tribunal partly allowed the appeal by directing the Assessing Officer to consider the alternative claim under section 35D for deduction of share issue expenses. However, the Tribunal rejected the other grounds of appeal, including the disallowance of deduction on guest house expenses, share issue expenses deemed capital in nature, and interest on deferred credit for machinery purchase. The Tribunal emphasized adherence to precedents and accounting principles in its decision. en-us Thu, 18 Sep 1997 00:00:00 +0530 Sat, 01 Jan 2011 17:12:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59901 The Tribunal partly allowed the appeal by directing the Assessing Officer to consider the alternative claim under section 35D for deduction of share issue expenses. However, the Tribunal rejected the other grounds of appeal, including the disallowance of deduction on guest house expenses, share issue expenses deemed capital in nature, and interest on deferred credit for machinery purchase. The Tribunal emphasized adherence to precedents and accounting principles in its decision. Case-Laws Income Tax Thu, 18 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59901