https://www.taxtmi.com/caselaws?id=367570 The ITAT overturned the CIT(A)'s decision and directed the AO to delete the disallowance of financial charges incurred by the assessee company, amounting to Rs. 7,66,83,299. The ITAT found the charges to be genuine business expenses supported by proper documentation, citing a previous ruling in a similar case. The appeal of the assessee was allowed based on the genuineness of the expenses and the precedent set by the previous case. en-us Wed, 19 Sep 2018 00:00:00 +0530 Sat, 22 Sep 2018 17:10:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367570 The ITAT overturned the CIT(A)'s decision and directed the AO to delete the disallowance of financial charges incurred by the assessee company, amounting to Rs. 7,66,83,299. The ITAT found the charges to be genuine business expenses supported by proper documentation, citing a previous ruling in a similar case. The appeal of the assessee was allowed based on the genuineness of the expenses and the precedent set by the previous case. Case-Laws Income Tax Wed, 19 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367570