https://www.taxtmi.com/caselaws?id=374093 The Tribunal dismissed the Revenue's appeal, affirming the Commissioner's decision to delete the disallowance of interest expenses. The Tribunal found that the loans obtained by the assessee were utilized for business purposes, with surplus funds invested and provided to the State Government. The recovery of interest and charges through bank deposits and State Government payments supported the decision to uphold the deletion of the disallowance. en-us Fri, 30 Nov 2018 00:00:00 +0530 Fri, 25 Jan 2019 09:13:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374093 The Tribunal dismissed the Revenue's appeal, affirming the Commissioner's decision to delete the disallowance of interest expenses. The Tribunal found that the loans obtained by the assessee were utilized for business purposes, with surplus funds invested and provided to the State Government. The recovery of interest and charges through bank deposits and State Government payments supported the decision to uphold the deletion of the disallowance. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374093