https://www.taxtmi.com/caselaws?id=219427 The Tribunal ruled in favor of the assessee on all grounds raised in the appeal. The disallowance of business loss, including transaction backed delivery, was deemed genuine based on consistent valuation policies. Interest disallowance was overturned as it was found to be payable for commercial expediency. The Tribunal allowed the additional ground on non-allowability of interest on unsecured loans, citing existing liability. Furthermore, interest under sections 234B of the Act was considered consequential and directed to be charged accordingly, resulting in a favorable outcome for the assessee. en-us Wed, 25 Jul 2012 00:00:00 +0530 Sat, 06 Oct 2012 18:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219427 The Tribunal ruled in favor of the assessee on all grounds raised in the appeal. The disallowance of business loss, including transaction backed delivery, was deemed genuine based on consistent valuation policies. Interest disallowance was overturned as it was found to be payable for commercial expediency. The Tribunal allowed the additional ground on non-allowability of interest on unsecured loans, citing existing liability. Furthermore, interest under sections 234B of the Act was considered consequential and directed to be charged accordingly, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Wed, 25 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219427