https://www.taxtmi.com/caselaws?id=248595 The Tribunal allowed all appeals of the Revenue for statistical purposes and remitted the matter back to the Assessing Officer (AO) for fresh consideration. The Tribunal emphasized that if the advances were from the assessee's own funds, no interest expenditure should be disallowed. The AO was directed to provide a fair hearing to the assessees before making any decisions. The orders of the Commissioner of Income Tax (Appeals) and the AO were set aside, and the issue was sent back for de novo consideration. en-us Wed, 28 May 2014 00:00:00 +0530 Tue, 17 Jun 2014 22:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248595 The Tribunal allowed all appeals of the Revenue for statistical purposes and remitted the matter back to the Assessing Officer (AO) for fresh consideration. The Tribunal emphasized that if the advances were from the assessee's own funds, no interest expenditure should be disallowed. The AO was directed to provide a fair hearing to the assessees before making any decisions. The orders of the Commissioner of Income Tax (Appeals) and the AO were set aside, and the issue was sent back for de novo consideration. Case-Laws Income Tax Wed, 28 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248595