https://www.taxtmi.com/caselaws?id=170324 The Tribunal partially allowed the appeal, granting relief on loom expenses by allowing Rs. 18,50,000 out of the claimed Rs. 22,62,695. The interest disallowance on the advance to Shri Kunal Jain was remanded for reconsideration based on a specific formula. However, the disallowance of depreciation on the car and food and beverage expenses was upheld by the Tribunal. en-us Fri, 19 Jul 2013 00:00:00 +0530 Thu, 16 Apr 2015 15:38:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170324 The Tribunal partially allowed the appeal, granting relief on loom expenses by allowing Rs. 18,50,000 out of the claimed Rs. 22,62,695. The interest disallowance on the advance to Shri Kunal Jain was remanded for reconsideration based on a specific formula. However, the disallowance of depreciation on the car and food and beverage expenses was upheld by the Tribunal. Case-Laws Income Tax Fri, 19 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170324