https://www.taxtmi.com/caselaws?id=379588 The appeal was filed against the order of the ld.CIT(A)-8, Ahmedabad for the Assessment Year 2012-13. The appellant contested the disallowance of interest expenses. The AO disallowed the interest expenditure due to the appellant not charging interest on an advance provided to a company. After the appellant's application under section 154 was approved, the disallowed amount was reduced. The Tribunal considered the appellant's interest-free funds and concluded that no interest expenditure needed to be disallowed. Relying on a decision of the Hon'ble Bombay High Court, the disallowance was deleted, partially allowing the appeal. en-us Thu, 02 May 2019 00:00:00 +0530 Fri, 03 May 2019 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379588 The appeal was filed against the order of the ld.CIT(A)-8, Ahmedabad for the Assessment Year 2012-13. The appellant contested the disallowance of interest expenses. The AO disallowed the interest expenditure due to the appellant not charging interest on an advance provided to a company. After the appellant's application under section 154 was approved, the disallowed amount was reduced. The Tribunal considered the appellant's interest-free funds and concluded that no interest expenditure needed to be disallowed. Relying on a decision of the Hon'ble Bombay High Court, the disallowance was deleted, partially allowing the appeal. Case-Laws Income Tax Thu, 02 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379588