https://www.taxtmi.com/caselaws?id=326895 The ITAT Delhi partially allowed both appeals, directing the AO to allow the claim of the assessee regarding the restriction of interest rate paid on unsecured loans and deleting the addition to income. Regarding the disallowance of various expenses, the ITAT restricted the disallowance to 10% of telephone expenses, upheld the disallowance of vehicle running and maintenance expenses, but deleted the disallowance of car insurance, car depreciation, and interest on car loan. The decisions were supported by detailed analysis and reasoning for each issue involved in the judgment. en-us Tue, 15 Mar 2016 00:00:00 +0530 Wed, 27 Apr 2016 10:26:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326895 The ITAT Delhi partially allowed both appeals, directing the AO to allow the claim of the assessee regarding the restriction of interest rate paid on unsecured loans and deleting the addition to income. Regarding the disallowance of various expenses, the ITAT restricted the disallowance to 10% of telephone expenses, upheld the disallowance of vehicle running and maintenance expenses, but deleted the disallowance of car insurance, car depreciation, and interest on car loan. The decisions were supported by detailed analysis and reasoning for each issue involved in the judgment. Case-Laws Income Tax Tue, 15 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326895