https://www.taxtmi.com/caselaws?id=179839 The Tribunal partially allowed the appeal, ruling in favor of the assessee by deleting the disallowance of the bad debt claim of Rs. 80,20,000 and the disallowance of interest expenses amounting to Rs. 1,38,988. The Tribunal found the bad debt claim was not mala fide and that the interest-free funds available exceeded the interest-free advance given to sister concerns, thus justifying the deletion of the disallowance. The appeal ground concerning penalty proceedings under section 271(1)(c) of the Act was dismissed due to lack of prosecution. en-us Thu, 01 Apr 2010 00:00:00 +0530 Thu, 10 Mar 2016 15:06:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179839 The Tribunal partially allowed the appeal, ruling in favor of the assessee by deleting the disallowance of the bad debt claim of Rs. 80,20,000 and the disallowance of interest expenses amounting to Rs. 1,38,988. The Tribunal found the bad debt claim was not mala fide and that the interest-free funds available exceeded the interest-free advance given to sister concerns, thus justifying the deletion of the disallowance. The appeal ground concerning penalty proceedings under section 271(1)(c) of the Act was dismissed due to lack of prosecution. Case-Laws Income Tax Thu, 01 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179839