https://www.taxtmi.com/caselaws?id=280206 The Tribunal allowed the appeal of the appellant, directing the Assessing Officer to delete the disallowance of interest on the car loan and the invocation of section 14 A of the Income-tax Act. The Tribunal found merit in the appellant's argument that the car loan was for business purposes and not diverted for personal use. Additionally, it emphasized the need for proper verification of expenses before making additions under the Act, citing lack of specificity in the assessing officer's reasoning. en-us Thu, 15 Nov 2018 00:00:00 +0530 Thu, 25 Apr 2019 06:29:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280206 The Tribunal allowed the appeal of the appellant, directing the Assessing Officer to delete the disallowance of interest on the car loan and the invocation of section 14 A of the Income-tax Act. The Tribunal found merit in the appellant's argument that the car loan was for business purposes and not diverted for personal use. Additionally, it emphasized the need for proper verification of expenses before making additions under the Act, citing lack of specificity in the assessing officer's reasoning. Case-Laws Income Tax Thu, 15 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280206