https://www.taxtmi.com/caselaws?id=117239 The tribunal ruled in favor of the assessee on all three issues. The disallowance of interest paid by the assessee was overturned as the tribunal found no tax avoidance device and determined that the benefit from office premises exceeded potential interest on advanced funds. The disallowance of club entrance fees was deemed incorrect as the fees were for business expediency, not capital in nature. Additionally, the tribunal directed the exclusion of freight and insurance charges from total turnover for the deduction under section 80HHC, instructing the Assessing Officer to recompute the deduction accordingly. en-us Thu, 26 Sep 2002 00:00:00 +0530 Thu, 21 Jun 2012 12:51:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117239 The tribunal ruled in favor of the assessee on all three issues. The disallowance of interest paid by the assessee was overturned as the tribunal found no tax avoidance device and determined that the benefit from office premises exceeded potential interest on advanced funds. The disallowance of club entrance fees was deemed incorrect as the fees were for business expediency, not capital in nature. Additionally, the tribunal directed the exclusion of freight and insurance charges from total turnover for the deduction under section 80HHC, instructing the Assessing Officer to recompute the deduction accordingly. Case-Laws Income Tax Thu, 26 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117239