https://www.taxtmi.com/caselaws?id=261436 The Tribunal upheld the decisions of the CIT(A) for Assessment Years 2001-02 and 2002-03, dismissing the Revenue's appeals. The disallowance of interest expenses was deemed unjustified as the advances were for genuine business purposes and not lacking commercial expediency. The Tribunal found no reason to interfere with the CIT(A)'s orders, confirming that the interest expenses were allowable. en-us Fri, 13 Mar 2015 00:00:00 +0530 Tue, 21 Apr 2015 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261436 The Tribunal upheld the decisions of the CIT(A) for Assessment Years 2001-02 and 2002-03, dismissing the Revenue's appeals. The disallowance of interest expenses was deemed unjustified as the advances were for genuine business purposes and not lacking commercial expediency. The Tribunal found no reason to interfere with the CIT(A)'s orders, confirming that the interest expenses were allowable. Case-Laws Income Tax Fri, 13 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261436