https://www.taxtmi.com/caselaws?id=244067 The Tribunal allowed the assessee's appeal, deleting the disallowed lumpsum amount in crane operating expenses due to lack of proper records. It also ruled in favor of the assessee in the disallowance of interest under section 36(i)(iii), emphasizing that notional interest cannot be levied when funds were advanced for business expediency. Additionally, the Tribunal upheld the deletion of the addition for excess depreciation claimed on Hydraulic Crane Machine, based on evidence provided by the assessee supporting the higher depreciation claim. en-us Thu, 30 Jan 2014 00:00:00 +0530 Mon, 17 Feb 2014 20:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244067 The Tribunal allowed the assessee's appeal, deleting the disallowed lumpsum amount in crane operating expenses due to lack of proper records. It also ruled in favor of the assessee in the disallowance of interest under section 36(i)(iii), emphasizing that notional interest cannot be levied when funds were advanced for business expediency. Additionally, the Tribunal upheld the deletion of the addition for excess depreciation claimed on Hydraulic Crane Machine, based on evidence provided by the assessee supporting the higher depreciation claim. Case-Laws Income Tax Thu, 30 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244067