https://www.taxtmi.com/caselaws?id=258263 The Tribunal partially allowed the appeal, reversing the disallowance of deductions for interest and bank charges. It emphasized the direct nexus between borrowed funds and interest income, disagreeing with the Commissioner's findings. However, the disallowance of professional fees was upheld partially due to lack of supporting information. The Tribunal's decision was based on a thorough analysis of the transactions and the connection between loans received and given by the assessee. en-us Wed, 25 Jun 2014 00:00:00 +0530 Fri, 03 Apr 2015 20:33:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258263 The Tribunal partially allowed the appeal, reversing the disallowance of deductions for interest and bank charges. It emphasized the direct nexus between borrowed funds and interest income, disagreeing with the Commissioner's findings. However, the disallowance of professional fees was upheld partially due to lack of supporting information. The Tribunal's decision was based on a thorough analysis of the transactions and the connection between loans received and given by the assessee. Case-Laws Income Tax Wed, 25 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258263