https://www.taxtmi.com/caselaws?id=217624 The tribunal allowed the appeal for statistical purposes, directing the AO to reexamine the disallowance of interest on cash credit to determine if funds were actually diverted, investigate the business purpose of the asset acquired through the hire purchase loan for interest disallowance, and review the treatment of interest on TDS to ensure proper computation of income. The issues were set aside for further examination to ensure a fair decision based on facts and legal provisions. en-us Thu, 12 Jul 2012 00:00:00 +0530 Sun, 21 Oct 2012 00:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217624 The tribunal allowed the appeal for statistical purposes, directing the AO to reexamine the disallowance of interest on cash credit to determine if funds were actually diverted, investigate the business purpose of the asset acquired through the hire purchase loan for interest disallowance, and review the treatment of interest on TDS to ensure proper computation of income. The issues were set aside for further examination to ensure a fair decision based on facts and legal provisions. Case-Laws Income Tax Thu, 12 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217624