https://www.taxtmi.com/caselaws?id=243718 The ITAT allowed the appeals for statistical purposes and remanded the case back to the AO for reconsideration. The ITAT directed the AO to reassess the sustaining of interest disallowance based on the failure to produce day-to-day fund flow statements and the diversion of higher interest-bearing funds into lower interest-yielding investments. Additionally, the ITAT instructed a review of the disallowance under section 40(a)(ia) considering the new evidence that the CIT(A) had not properly considered. The order was pronounced on 05.02.2014. en-us Wed, 05 Feb 2014 00:00:00 +0530 Sat, 08 Feb 2014 12:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243718 The ITAT allowed the appeals for statistical purposes and remanded the case back to the AO for reconsideration. The ITAT directed the AO to reassess the sustaining of interest disallowance based on the failure to produce day-to-day fund flow statements and the diversion of higher interest-bearing funds into lower interest-yielding investments. Additionally, the ITAT instructed a review of the disallowance under section 40(a)(ia) considering the new evidence that the CIT(A) had not properly considered. The order was pronounced on 05.02.2014. Case-Laws Income Tax Wed, 05 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243718