https://www.taxtmi.com/caselaws?id=373362 The Tribunal partially allowed the appeal of the assessee in the case. Regarding the addition under section 50C of the Income Tax Act, the Tribunal dismissed the appeal due to lack of substantiating evidence. However, concerning the disallowance of interest expenditure against interest income, the Tribunal found merit in the assessee's argument and revised the disallowance amount to Rs. 4,64,876, allowing the remaining interest payment to be set off against the interest income. en-us Wed, 31 Oct 2018 00:00:00 +0530 Fri, 11 Jan 2019 11:03:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373362 The Tribunal partially allowed the appeal of the assessee in the case. Regarding the addition under section 50C of the Income Tax Act, the Tribunal dismissed the appeal due to lack of substantiating evidence. However, concerning the disallowance of interest expenditure against interest income, the Tribunal found merit in the assessee's argument and revised the disallowance amount to Rs. 4,64,876, allowing the remaining interest payment to be set off against the interest income. Case-Laws Income Tax Wed, 31 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373362