https://www.taxtmi.com/caselaws?id=352529 The Tribunal upheld the disallowance of 10% of vehicle expenses due to lack of supporting evidence. However, it ruled in favor of the assessee regarding the disallowance of interest on an advance to a sister concern, as there was no established nexus between borrowed funds and the advance. The Tribunal deemed the charging of interest under sections 234B, 234C, and 234D as consequential and did not require specific findings. Consequently, the Tribunal partly allowed the assessee's appeal based on these considerations. en-us Mon, 11 Dec 2017 00:00:00 +0530 Sat, 16 Dec 2017 10:33:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352529 The Tribunal upheld the disallowance of 10% of vehicle expenses due to lack of supporting evidence. However, it ruled in favor of the assessee regarding the disallowance of interest on an advance to a sister concern, as there was no established nexus between borrowed funds and the advance. The Tribunal deemed the charging of interest under sections 234B, 234C, and 234D as consequential and did not require specific findings. Consequently, the Tribunal partly allowed the assessee's appeal based on these considerations. Case-Laws Income Tax Mon, 11 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352529