https://www.taxtmi.com/caselaws?id=326271 The Tribunal upheld the decisions of the CIT(A) in dismissing the Revenue's appeal regarding two issues. Firstly, the Tribunal found that the ad-hoc disallowance of manufacturing expenses amounting to Rs. 25,00,000/- was unjustified as the increase in expenses was adequately explained by the assessee, supported by genuine transactions. Secondly, the disallowance of accrued interest not paid on loans from UP Government institutions was deemed inapplicable under Section 43B(d) of the Income Tax Act, 1961, leading to the deletion of an addition of Rs. 6,30,57,609/-. en-us Tue, 05 Apr 2016 00:00:00 +0530 Fri, 08 Apr 2016 18:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326271 The Tribunal upheld the decisions of the CIT(A) in dismissing the Revenue's appeal regarding two issues. Firstly, the Tribunal found that the ad-hoc disallowance of manufacturing expenses amounting to Rs. 25,00,000/- was unjustified as the increase in expenses was adequately explained by the assessee, supported by genuine transactions. Secondly, the disallowance of accrued interest not paid on loans from UP Government institutions was deemed inapplicable under Section 43B(d) of the Income Tax Act, 1961, leading to the deletion of an addition of Rs. 6,30,57,609/-. Case-Laws Income Tax Tue, 05 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326271