https://www.taxtmi.com/caselaws?id=235199 The tribunal partly allowed one appeal and fully allowed the other, directing the assessing officer to delete the disallowed freight charges and interest on loans and advances balances under sec. 40(a)(ia) of the Act for the assessment year 2006-07. The tribunal disagreed with the Ld CIT(A)'s view on the disallowance of freight charges, emphasizing the lack of a direct contract for tax deduction. Additionally, the tribunal set aside the Ld CIT(A)'s decision on the interest calculation, noting that interest-free advances were made from interest-free funds. The tribunal upheld the assessing officer's decision on the disallowance of a portion of Phamplets expenses due to insufficient evidence. en-us Fri, 03 May 2013 00:00:00 +0530 Fri, 07 Jun 2013 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235199 The tribunal partly allowed one appeal and fully allowed the other, directing the assessing officer to delete the disallowed freight charges and interest on loans and advances balances under sec. 40(a)(ia) of the Act for the assessment year 2006-07. The tribunal disagreed with the Ld CIT(A)'s view on the disallowance of freight charges, emphasizing the lack of a direct contract for tax deduction. Additionally, the tribunal set aside the Ld CIT(A)'s decision on the interest calculation, noting that interest-free advances were made from interest-free funds. The tribunal upheld the assessing officer's decision on the disallowance of a portion of Phamplets expenses due to insufficient evidence. Case-Laws Income Tax Fri, 03 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235199