https://www.taxtmi.com/caselaws?id=258793 The Tribunal upheld the CIT(A)'s decisions in dismissing the Revenue's appeal on two issues. Firstly, the disallowance of interest expenses under Section 36(1)(iii) was overturned as the borrowed funds were found to be utilized for business purposes. Secondly, the disallowance under Section 40(a)(ia) for non-deduction of TDS on payments to C&F agents was reversed due to separate billing of reimbursements, which did not necessitate TDS deduction. en-us Mon, 30 Mar 2015 00:00:00 +0530 Sat, 18 Apr 2015 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258793 The Tribunal upheld the CIT(A)'s decisions in dismissing the Revenue's appeal on two issues. Firstly, the disallowance of interest expenses under Section 36(1)(iii) was overturned as the borrowed funds were found to be utilized for business purposes. Secondly, the disallowance under Section 40(a)(ia) for non-deduction of TDS on payments to C&F agents was reversed due to separate billing of reimbursements, which did not necessitate TDS deduction. Case-Laws Income Tax Mon, 30 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258793