https://www.taxtmi.com/caselaws?id=384375 The ITAT partly allowed both appeals, directing the AO to re-examine the disallowances. It set aside the disallowance under sec. 40(a)(ia) for deduction of lump sum lease amount, instructed verification based on log book records for disallowance of aircraft expenses for personal use, and directed verification of own funds against work in progress before disallowing interest. The ITAT confirmed the disallowance of prior period expenses under sec. 115JB, emphasizing the importance of thorough examination and verification of claims related to disallowances and deductions. en-us Thu, 08 Aug 2019 00:00:00 +0530 Sat, 10 Aug 2019 13:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384375 The ITAT partly allowed both appeals, directing the AO to re-examine the disallowances. It set aside the disallowance under sec. 40(a)(ia) for deduction of lump sum lease amount, instructed verification based on log book records for disallowance of aircraft expenses for personal use, and directed verification of own funds against work in progress before disallowing interest. The ITAT confirmed the disallowance of prior period expenses under sec. 115JB, emphasizing the importance of thorough examination and verification of claims related to disallowances and deductions. Case-Laws Income Tax Thu, 08 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384375