2023 (6) TMI 1457

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... wed funds for projects which are project funds and consequently the interest expense ought to have been disallowed and added to the Work in Progress (WIP) of the assessee - HELD THAT:- We find nothing to indicate failure to disclose any material fact. Upon examining the order u/s 143(3) we find that the AO has considered all documents and accepted the Business Loss and allowed Unabsorbed Depreciat .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... failure to truly and fully disclose material facts as held by this Court in Ananta Landmark (P) Ltd. v DCIT CC 5(3) Mumbai [2021] 131 taxmann.com 52. 3. We have examined the reasons recorded annexed to the Petition that are evidently premised on perusal of the case records . The Assessment Officer (AO) records that the assessee had paid interest on borrowed funds for projects which are project fu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X