https://www.taxtmi.com/caselaws?id=368526 The Tribunal partly allowed the appeal, confirming a disallowance of Rs. 3,75,880 for administrative expenses and deleting a disallowance of Rs. 2,19,585 for direct expenses. The disallowance of interest expenses was also deleted as the own funds exceeded investments, establishing no nexus between borrowed funds and investments. The Tribunal emphasized that disallowances cannot exceed amounts determined by the AO and directed the deletion of unsupported direct expenses. The order was pronounced on 03/10/2018. en-us Wed, 03 Oct 2018 00:00:00 +0530 Wed, 10 Oct 2018 09:09:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368526 The Tribunal partly allowed the appeal, confirming a disallowance of Rs. 3,75,880 for administrative expenses and deleting a disallowance of Rs. 2,19,585 for direct expenses. The disallowance of interest expenses was also deleted as the own funds exceeded investments, establishing no nexus between borrowed funds and investments. The Tribunal emphasized that disallowances cannot exceed amounts determined by the AO and directed the deletion of unsupported direct expenses. The order was pronounced on 03/10/2018. Case-Laws Income Tax Wed, 03 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368526