https://www.taxtmi.com/caselaws?id=372929 The appeal was successful as the Tribunal ruled in favor of the assessee. The disallowance of interest on unsecured loans was overturned as the advances to suppliers were deemed to be in the normal course of business and not interest-free loans. Additionally, the ad-hoc disallowance of travelling & conveyance expenses was also rejected since the Assessing Officer failed to specify any defects in the expenses. As a result, the Tribunal directed the Assessing Officer to delete the disallowances, totaling Rs. 4,76,173, and allowed the appeal, setting aside the lower authorities' orders. en-us Wed, 28 Nov 2018 00:00:00 +0530 Thu, 03 Jan 2019 08:11:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372929 The appeal was successful as the Tribunal ruled in favor of the assessee. The disallowance of interest on unsecured loans was overturned as the advances to suppliers were deemed to be in the normal course of business and not interest-free loans. Additionally, the ad-hoc disallowance of travelling & conveyance expenses was also rejected since the Assessing Officer failed to specify any defects in the expenses. As a result, the Tribunal directed the Assessing Officer to delete the disallowances, totaling Rs. 4,76,173, and allowed the appeal, setting aside the lower authorities' orders. Case-Laws Income Tax Wed, 28 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372929