https://www.taxtmi.com/caselaws?id=61688 The appeal was partly allowed in the case. The disallowance of interest paid on account of interest-free advances was deleted as the tribunal found no nexus between the advances and interest-bearing loans. The disallowance of consultation fees under Section 40A(12) was set aside, providing relief to the assessee. However, the disallowance of Rs. 10,000 out of telephone expenses was upheld. en-us Fri, 03 Jan 2003 00:00:00 +0530 Thu, 13 Jan 2011 18:40:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61688 The appeal was partly allowed in the case. The disallowance of interest paid on account of interest-free advances was deleted as the tribunal found no nexus between the advances and interest-bearing loans. The disallowance of consultation fees under Section 40A(12) was set aside, providing relief to the assessee. However, the disallowance of Rs. 10,000 out of telephone expenses was upheld. Case-Laws Income Tax Fri, 03 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61688