https://www.taxtmi.com/caselaws?id=276050 The Tribunal dismissed both revenue appeals, upholding the CIT(A)'s decisions on all issues. The disallowed expenses were deemed justified, interest on advances was not chargeable due to timing, and interest liability not debited in books was allowed based on consistent accounting practices. The Assessing Officer's actions were found to lack a valid basis, emphasizing the importance of accurate assessment and fair treatment of taxpayers. en-us Thu, 30 Jul 2009 00:00:00 +0530 Fri, 26 Oct 2018 10:19:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276050 The Tribunal dismissed both revenue appeals, upholding the CIT(A)'s decisions on all issues. The disallowed expenses were deemed justified, interest on advances was not chargeable due to timing, and interest liability not debited in books was allowed based on consistent accounting practices. The Assessing Officer's actions were found to lack a valid basis, emphasizing the importance of accurate assessment and fair treatment of taxpayers. Case-Laws Income Tax Thu, 30 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276050