https://www.taxtmi.com/caselaws?id=327430 The ITAT Jaipur allowed the appeal, overturning the adhoc disallowance of expenses, disallowance of interest on borrowed funds, and disallowance of brokerage on finance. The disallowances lacked specific instances of non-verification, failed to establish a nexus between borrowed funds and land purchase, and lacked justification and evidence. The ITAT emphasized the business purpose of the land purchase, citing relevant judgments, and upheld the appellant's claims under section 36(1)(vii). en-us Wed, 30 Mar 2016 00:00:00 +0530 Wed, 11 May 2016 10:41:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327430 The ITAT Jaipur allowed the appeal, overturning the adhoc disallowance of expenses, disallowance of interest on borrowed funds, and disallowance of brokerage on finance. The disallowances lacked specific instances of non-verification, failed to establish a nexus between borrowed funds and land purchase, and lacked justification and evidence. The ITAT emphasized the business purpose of the land purchase, citing relevant judgments, and upheld the appellant's claims under section 36(1)(vii). Case-Laws Income Tax Wed, 30 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327430