Held that every year the interest relating to the hotel and the commercial project had been shown separately as expenditure pending allocation and such interest had not been found debited to the profit and loss account, since, in the remand report, the Assessing Officer had not furnished any explanation regarding his disallowance the Commissioner (Appeals) held the disallowance untenable. (AY. 2008-09)
Dy. CIT v. Balaji Hotels and Enterprises Ltd. (2022) 94 ITR 24 (Trib.) (Chennai)(Trib.)
S. 37(1) : Business expenditure-Capital or revenue-Pre-operative interest expenses-Pending for allocation-Not debited in profit and loss account-Disallowance is not valid.