https://www.taxtmi.com/caselaws?id=244970 The Tribunal upheld the Commissioner of Income Tax (Appeals) decisions on both issues. The disallowance of reimbursement of medical expenses to Directors was deemed allowable as business expenses, and the interest disallowance on borrowed funds was deleted due to the lack of evidence showing a connection with interest-free advances. The judgment stressed the importance of concrete evidence for disallowances and upheld the principle of commercial expediency. en-us Fri, 21 May 2010 00:00:00 +0530 Fri, 14 Mar 2014 07:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244970 The Tribunal upheld the Commissioner of Income Tax (Appeals) decisions on both issues. The disallowance of reimbursement of medical expenses to Directors was deemed allowable as business expenses, and the interest disallowance on borrowed funds was deleted due to the lack of evidence showing a connection with interest-free advances. The judgment stressed the importance of concrete evidence for disallowances and upheld the principle of commercial expediency. Case-Laws Income Tax Fri, 21 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244970