https://www.taxtmi.com/caselaws?id=238468 The appellant's appeal against the rejection of its application u/s.154 of the Income Tax Act, 1961 for A.Y. 2005-06 was dismissed as the Assessing Officer's decision was deemed conscious and requiring further verification. Regarding specific disallowances under various sections, the Tribunal partially allowed the appeal concerning the disallowance of interest related to interest-free loans to directors, directing a reevaluation by the Assessing Officer. However, the disallowance of rent under sec. 40A(2)(a) was upheld as the appellant failed to demonstrate a clear error in the assessment proceedings. The appellant's appeal was partly allowed for statistical purposes with detailed reasoning provided by the Tribunal. en-us Wed, 25 Sep 2013 00:00:00 +0530 Wed, 23 Oct 2013 07:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238468 The appellant's appeal against the rejection of its application u/s.154 of the Income Tax Act, 1961 for A.Y. 2005-06 was dismissed as the Assessing Officer's decision was deemed conscious and requiring further verification. Regarding specific disallowances under various sections, the Tribunal partially allowed the appeal concerning the disallowance of interest related to interest-free loans to directors, directing a reevaluation by the Assessing Officer. However, the disallowance of rent under sec. 40A(2)(a) was upheld as the appellant failed to demonstrate a clear error in the assessment proceedings. The appellant's appeal was partly allowed for statistical purposes with detailed reasoning provided by the Tribunal. Case-Laws Income Tax Wed, 25 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238468