Case Law Details
Case Name : Intas Biopharmaceuticals Ltd Vs DCIT (ITAT Ahmedabad)
Appeal Number : I.T.A. No. 865/Ahd/2016
Date of Judgement/Order : 07/08/2024
Related Assessment Year : 2011-12
Courts :
All ITAT ITAT Ahmedabad
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Intas Biopharmaceuticals Ltd Vs DCIT (ITAT Ahmedabad)
No disallowance of interest u/s 36 (1)(iii) based on wrong presumption of AO that only interest-bearing funds were used for CWIP
Conclusion: Since huge interest free funds available with assessee the presumption of AO that only the interest bearing funds were
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