https://www.taxtmi.com/caselaws?id=263763 The tribunal ruled in favor of the assessee, finding that the advances made for business purposes and commercial expediency justified the interest expenses. The disallowance by the Assessing Officer and upheld by the Commissioner of Income Tax (Appeals) was deemed unsustainable. As a result, the tribunal deleted the addition of Rs. 10,54,790/-, allowing the appeal of the assessee. en-us Wed, 08 Jul 2015 00:00:00 +0530 Thu, 10 Sep 2015 08:17:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263763 The tribunal ruled in favor of the assessee, finding that the advances made for business purposes and commercial expediency justified the interest expenses. The disallowance by the Assessing Officer and upheld by the Commissioner of Income Tax (Appeals) was deemed unsustainable. As a result, the tribunal deleted the addition of Rs. 10,54,790/-, allowing the appeal of the assessee. Case-Laws Income Tax Wed, 08 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263763