https://www.taxtmi.com/caselaws?id=325399 The Tribunal allowed the appeal of the assessee concerning the disallowance under section 40(a)(ia) of the Income Tax Act for freight charges, finding no actual expenditure incurred and deeming the disallowance unwarranted. Specific payments to certain entities were also deemed unjustified under section 40(a)(ia). Additionally, the disallowance of interest under Section 37(1) was overturned, as the borrowings were found to be solely for the business of the assessee. The appeal was partly allowed, with the decision issued on 03-02-2016. en-us Wed, 03 Feb 2016 00:00:00 +0530 Fri, 18 Mar 2016 08:11:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325399 The Tribunal allowed the appeal of the assessee concerning the disallowance under section 40(a)(ia) of the Income Tax Act for freight charges, finding no actual expenditure incurred and deeming the disallowance unwarranted. Specific payments to certain entities were also deemed unjustified under section 40(a)(ia). Additionally, the disallowance of interest under Section 37(1) was overturned, as the borrowings were found to be solely for the business of the assessee. The appeal was partly allowed, with the decision issued on 03-02-2016. Case-Laws Income Tax Wed, 03 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325399