https://www.taxtmi.com/caselaws?id=326694 The Appellate Tribunal ITAT Mumbai allowed the appeal of the assessee regarding the disallowance of interest under section 36(1)(iii) of the Income Tax Act. The Tribunal considered legal precedents and the source of funds used for acquiring capital assets, concluding that the disallowance was not justified. Emphasizing the importance of legal principles in decision-making, the Tribunal ruled in favor of the assessee, highlighting that the disallowance of interest was unwarranted in this case. en-us Mon, 21 Mar 2016 00:00:00 +0530 Thu, 29 Dec 2016 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326694 The Appellate Tribunal ITAT Mumbai allowed the appeal of the assessee regarding the disallowance of interest under section 36(1)(iii) of the Income Tax Act. The Tribunal considered legal precedents and the source of funds used for acquiring capital assets, concluding that the disallowance was not justified. Emphasizing the importance of legal principles in decision-making, the Tribunal ruled in favor of the assessee, highlighting that the disallowance of interest was unwarranted in this case. Case-Laws Income Tax Mon, 21 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326694