https://www.taxtmi.com/caselaws?id=221768 The Tribunal partly allowed the appeal, remitting some issues back to the AO for further examination and upholding the disallowance of interest cost and consultancy charges. The disallowance of interest cost incurred for investment in shares was upheld as the acquisition was not for business purposes. The disallowance of consultancy and loan syndication charges was also confirmed as they were deemed unrelated to the business of the assessee. The Tribunal remitted issues regarding interest-free advances and non-deduction of tax at source back to the AO for further review. en-us Tue, 31 Jan 2012 00:00:00 +0530 Fri, 29 Mar 2013 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221768 The Tribunal partly allowed the appeal, remitting some issues back to the AO for further examination and upholding the disallowance of interest cost and consultancy charges. The disallowance of interest cost incurred for investment in shares was upheld as the acquisition was not for business purposes. The disallowance of consultancy and loan syndication charges was also confirmed as they were deemed unrelated to the business of the assessee. The Tribunal remitted issues regarding interest-free advances and non-deduction of tax at source back to the AO for further review. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221768