https://www.taxtmi.com/caselaws?id=63163 The Tribunal dismissed the appeals and upheld the CIT(A)'s decisions on all issues. The disallowance of interest on interest was restricted to loans for house property construction, not business purposes. Additions made under Section 40A(8) were deleted based on lack of evidence of payments to directors or relatives. The trading addition of Rs. 10,000 for the assessment year 1983-84 was overturned due to explanations regarding changes in gross profit rates. en-us Mon, 14 Mar 1988 00:00:00 +0530 Fri, 28 Jan 2011 11:39:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63163 The Tribunal dismissed the appeals and upheld the CIT(A)'s decisions on all issues. The disallowance of interest on interest was restricted to loans for house property construction, not business purposes. Additions made under Section 40A(8) were deleted based on lack of evidence of payments to directors or relatives. The trading addition of Rs. 10,000 for the assessment year 1983-84 was overturned due to explanations regarding changes in gross profit rates. Case-Laws Income Tax Mon, 14 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63163