https://www.taxtmi.com/caselaws?id=326585 The Tribunal allowed the assessee's appeal, directing the deletion of the disallowance of interest expenses of Rs. 48,74,798 due to commercial expediency. It upheld the deletion of the disallowance of interest of Rs. 24,30,996, as the funds were used for business purposes. Additionally, the Tribunal dismissed the revenue's appeal on the addition of Rs. 74.5 lakhs in the hands of the assessee, as there was no evidence supporting the A.O's claim, affirming the CIT(A)'s findings. en-us Fri, 26 Feb 2016 00:00:00 +0530 Wed, 20 Apr 2016 09:50:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326585 The Tribunal allowed the assessee's appeal, directing the deletion of the disallowance of interest expenses of Rs. 48,74,798 due to commercial expediency. It upheld the deletion of the disallowance of interest of Rs. 24,30,996, as the funds were used for business purposes. Additionally, the Tribunal dismissed the revenue's appeal on the addition of Rs. 74.5 lakhs in the hands of the assessee, as there was no evidence supporting the A.O's claim, affirming the CIT(A)'s findings. Case-Laws Income Tax Fri, 26 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326585