https://www.taxtmi.com/caselaws?id=381462 The Tribunal allowed the appeal of the assessee, directing the AO to delete the addition made for the alleged diversion of funds for non-business purposes. The Tribunal held that the assessee had adequate own funds to cover the advances, refuting the disallowance of interest expenses. The decision was rendered on 27/05/2019, overturning the lower authorities' orders and ruling in favor of the assessee. en-us Mon, 27 May 2019 00:00:00 +0530 Tue, 11 Jun 2019 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381462 The Tribunal allowed the appeal of the assessee, directing the AO to delete the addition made for the alleged diversion of funds for non-business purposes. The Tribunal held that the assessee had adequate own funds to cover the advances, refuting the disallowance of interest expenses. The decision was rendered on 27/05/2019, overturning the lower authorities' orders and ruling in favor of the assessee. Case-Laws Income Tax Mon, 27 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381462