https://www.taxtmi.com/caselaws?id=180495 The Tribunal reduced disallowances for aviation expenses and depreciation to 1/7th for both Bell Helicopter and Cessna Aircraft, aligning with past assessments. Interest expenditure was allowed as business expenditure under Section 36(iii). The Annual Letting Value (ALV) determination favored the assessee's method based on actual rental receipts. Disallowance of interest expenditure on borrowed funds for shares was partially allowed under Section 36(iii) but not under Section 57(iii) due to no income from SPANCO shares. The addition for unaccounted commission payments was deleted for lack of evidence. en-us Fri, 24 Sep 2010 00:00:00 +0530 Mon, 21 Aug 2023 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180495 The Tribunal reduced disallowances for aviation expenses and depreciation to 1/7th for both Bell Helicopter and Cessna Aircraft, aligning with past assessments. Interest expenditure was allowed as business expenditure under Section 36(iii). The Annual Letting Value (ALV) determination favored the assessee's method based on actual rental receipts. Disallowance of interest expenditure on borrowed funds for shares was partially allowed under Section 36(iii) but not under Section 57(iii) due to no income from SPANCO shares. The addition for unaccounted commission payments was deleted for lack of evidence. Case-Laws Income Tax Fri, 24 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180495