https://www.taxtmi.com/caselaws?id=255678 The Court dismissed the appeal filed by the revenue, ruling in favor of the assessee and against the revenue. It upheld the Tribunal's decision to delete the disallowance of interest on interest-free advances/loans for the Assessment Year 1998-99. The Court emphasized that commercial expediency from the assessee's viewpoint should be considered in determining reasonable expenditure, setting aside previous judgments and remanding the matter to the Tribunal for a fresh decision based on the principles outlined in the referenced decision and the precedent set by the Apex Court. en-us Wed, 24 Dec 2014 00:00:00 +0530 Fri, 23 Jan 2015 06:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255678 The Court dismissed the appeal filed by the revenue, ruling in favor of the assessee and against the revenue. It upheld the Tribunal's decision to delete the disallowance of interest on interest-free advances/loans for the Assessment Year 1998-99. The Court emphasized that commercial expediency from the assessee's viewpoint should be considered in determining reasonable expenditure, setting aside previous judgments and remanding the matter to the Tribunal for a fresh decision based on the principles outlined in the referenced decision and the precedent set by the Apex Court. Case-Laws Income Tax Wed, 24 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255678