https://www.taxtmi.com/caselaws?id=61883 The Tribunal ruled in favor of the appellant, a manufacturing company, in a tax assessment dispute. The adjustments made by the Assessing Officer under Section 143(1)(a) of the Income-tax Act, including disallowances related to interest on loans from public financial institutions, were contested. The Tribunal held that disallowing interest without verifying the loan agreements was not a valid prima facie adjustment under Section 43B(d). Consequently, the disallowance of interest and the additional tax levy were deleted, allowing the appeal. en-us Mon, 26 Jun 1995 00:00:00 +0530 Sat, 15 Jan 2011 18:05:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61883 The Tribunal ruled in favor of the appellant, a manufacturing company, in a tax assessment dispute. The adjustments made by the Assessing Officer under Section 143(1)(a) of the Income-tax Act, including disallowances related to interest on loans from public financial institutions, were contested. The Tribunal held that disallowing interest without verifying the loan agreements was not a valid prima facie adjustment under Section 43B(d). Consequently, the disallowance of interest and the additional tax levy were deleted, allowing the appeal. Case-Laws Income Tax Mon, 26 Jun 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61883