https://www.taxtmi.com/caselaws?id=190020 The Tribunal allowed the appellant's appeal regarding the disallowance of interest expenses in the computation of income from a Hawala business for the assessment year 1999-2000. The Tribunal found the interest expenses to be genuine and necessary for business operations, contrary to the earlier disallowance by the assessing officer. Consequently, the Tribunal set aside the CIT(A) order and allowed the claim for interest expenses of Rs. 1,04,703. The appeal by the assessee was allowed, with the order pronounced on 30th October 2012. en-us Tue, 30 Oct 2012 00:00:00 +0530 Fri, 09 Mar 2018 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190020 The Tribunal allowed the appellant's appeal regarding the disallowance of interest expenses in the computation of income from a Hawala business for the assessment year 1999-2000. The Tribunal found the interest expenses to be genuine and necessary for business operations, contrary to the earlier disallowance by the assessing officer. Consequently, the Tribunal set aside the CIT(A) order and allowed the claim for interest expenses of Rs. 1,04,703. The appeal by the assessee was allowed, with the order pronounced on 30th October 2012. Case-Laws Income Tax Tue, 30 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190020