Interest Amount incurred towards Project Expenses cannot be Deducted from Project Expenses: ITAT upholds order of CIT(A) [Read Order]

Interest - Interest Amount - Amount - Interest Amount incurred towards Project Expenses - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that Interest amount incurred towards project expenses not liable to be reduced from project expenses The Revenue appealed against the order of the Commissioner of Income Tax (Appeals)[CIT(A)] on the ground that the CIT(A) erred in law in deleting the disallowance of Rs. 8,35,81,377/-…

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