https://www.taxtmi.com/caselaws?id=242665 The Tribunal partially allowed the appeal, focusing on disallowances under sec.36(1)(iii) and disallowance of depreciation and interest on vehicles. The disallowance under sec.36(1)(iii) was deleted as the appellant demonstrated the availability of interest-free funds. The disallowance related to depreciation and interest on vehicles was also deleted based on legal precedent interpreting ownership in depreciation claims. Other grounds were dismissed as they were not actively pursued. The Tribunal emphasized the significance of legal precedents in reaching its decision. en-us Fri, 28 Jun 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:46:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242665 The Tribunal partially allowed the appeal, focusing on disallowances under sec.36(1)(iii) and disallowance of depreciation and interest on vehicles. The disallowance under sec.36(1)(iii) was deleted as the appellant demonstrated the availability of interest-free funds. The disallowance related to depreciation and interest on vehicles was also deleted based on legal precedent interpreting ownership in depreciation claims. Other grounds were dismissed as they were not actively pursued. The Tribunal emphasized the significance of legal precedents in reaching its decision. Case-Laws Income Tax Fri, 28 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242665