https://www.taxtmi.com/caselaws?id=234507 The Tribunal partially allowed the appeal, reducing the disallowance of interest paid to Rs. 38,529 from Rs. 93,300 as determined by the CIT (A). The Tribunal emphasized the lack of details regarding loans from banks and their connection to interest-free advances, ultimately favoring a reduced disallowance based on the commercial expediency principle. Relying on the precedent of S.A. Builders vs. CIT, the Tribunal concluded that the loans provided for non-business purposes were not justified under commercial expediency, leading to the adjusted disallowance amount. en-us Wed, 05 Jun 2013 00:00:00 +0530 Fri, 14 Jun 2013 12:52:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234507 The Tribunal partially allowed the appeal, reducing the disallowance of interest paid to Rs. 38,529 from Rs. 93,300 as determined by the CIT (A). The Tribunal emphasized the lack of details regarding loans from banks and their connection to interest-free advances, ultimately favoring a reduced disallowance based on the commercial expediency principle. Relying on the precedent of S.A. Builders vs. CIT, the Tribunal concluded that the loans provided for non-business purposes were not justified under commercial expediency, leading to the adjusted disallowance amount. Case-Laws Income Tax Wed, 05 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234507