https://www.taxtmi.com/caselaws?id=342478 The ITAT Delhi ruled in favor of the assessee, holding that interest related to interest-free advances should not be disallowed under section 36(1)(iii) of the Act. The tribunal emphasized the need for commercial expediency or interest-free funds with the assessee to justify disallowance and highlighted the importance of consistency in tax assessments. Consequently, the disallowance made by the Assessing Officer was deleted, and the order of the CIT(A) was reversed, allowing the assessee's appeal. en-us Tue, 25 Apr 2017 00:00:00 +0530 Fri, 05 May 2017 07:41:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342478 The ITAT Delhi ruled in favor of the assessee, holding that interest related to interest-free advances should not be disallowed under section 36(1)(iii) of the Act. The tribunal emphasized the need for commercial expediency or interest-free funds with the assessee to justify disallowance and highlighted the importance of consistency in tax assessments. Consequently, the disallowance made by the Assessing Officer was deleted, and the order of the CIT(A) was reversed, allowing the assessee's appeal. Case-Laws Income Tax Tue, 25 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342478