https://www.taxtmi.com/caselaws?id=375694 The Tribunal directed a re-examination by the Assessing Officer in an appeal against the disallowance of interest expenses for Assessment Year 2012-13. The dispute centered on whether loans were used entirely for business needs or partly diverted for personal investments. The Tribunal referred to a decision of the Hon'ble Bombay High Court regarding mixed funds, favoring the assessee. The Tribunal allowed the appeal for statistical purposes, emphasizing the necessity of assessing fund utilization for business and property acquisitions to determine allowable interest expenses. en-us Fri, 15 Feb 2019 00:00:00 +0530 Thu, 21 Feb 2019 21:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375694 The Tribunal directed a re-examination by the Assessing Officer in an appeal against the disallowance of interest expenses for Assessment Year 2012-13. The dispute centered on whether loans were used entirely for business needs or partly diverted for personal investments. The Tribunal referred to a decision of the Hon'ble Bombay High Court regarding mixed funds, favoring the assessee. The Tribunal allowed the appeal for statistical purposes, emphasizing the necessity of assessing fund utilization for business and property acquisitions to determine allowable interest expenses. Case-Laws Income Tax Fri, 15 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375694