https://www.taxtmi.com/caselaws?id=271062 The Tribunal dismissed the revenue's appeal for AY 2008-09, upholding the deletion of interest disallowance. For AY 2010-11, the Tribunal allowed the assessee's appeals, permitting club membership fees and interest expenditure as business expenses, based on the availability of interest-free funds to cover the advances made. en-us Fri, 06 Nov 2015 00:00:00 +0530 Mon, 25 Jan 2016 09:05:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271062 The Tribunal dismissed the revenue's appeal for AY 2008-09, upholding the deletion of interest disallowance. For AY 2010-11, the Tribunal allowed the assessee's appeals, permitting club membership fees and interest expenditure as business expenses, based on the availability of interest-free funds to cover the advances made. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271062