https://www.taxtmi.com/caselaws?id=332432 The Tribunal upheld the CIT(A)'s decision to allow deductions for interest and finance costs, finding the interest liability crystallized in the current year and TDS was deducted. The Tribunal also noted that the finance cost was for overall business activities, including interest-free loans from family members. The Revenue's arguments were dismissed, with the Tribunal finding no new evidence to challenge the CIT(A)'s well-reasoned findings. The appeal was denied, affirming the CIT(A)'s order. en-us Fri, 05 Aug 2016 00:00:00 +0530 Sat, 17 Sep 2016 11:36:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332432 The Tribunal upheld the CIT(A)'s decision to allow deductions for interest and finance costs, finding the interest liability crystallized in the current year and TDS was deducted. The Tribunal also noted that the finance cost was for overall business activities, including interest-free loans from family members. The Revenue's arguments were dismissed, with the Tribunal finding no new evidence to challenge the CIT(A)'s well-reasoned findings. The appeal was denied, affirming the CIT(A)'s order. Case-Laws Income Tax Fri, 05 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332432