https://www.taxtmi.com/caselaws?id=283724 The Tribunal upheld the deletion of disallowances of interest paid, finding the Assessing Officer failed to prove non-business use of borrowed funds. Legal expenses disallowance was remanded for lack of evidence. The Tribunal dismissed the appeal on scrutiny assessment timing, stating the notice was within limits or inapplicable. Assessees' appeals were allowed for statistical purposes, while cross-objections and Revenue's appeals were dismissed. en-us Fri, 27 Mar 2009 00:00:00 +0530 Wed, 09 Oct 2019 14:41:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283724 The Tribunal upheld the deletion of disallowances of interest paid, finding the Assessing Officer failed to prove non-business use of borrowed funds. Legal expenses disallowance was remanded for lack of evidence. The Tribunal dismissed the appeal on scrutiny assessment timing, stating the notice was within limits or inapplicable. Assessees' appeals were allowed for statistical purposes, while cross-objections and Revenue's appeals were dismissed. Case-Laws Income Tax Fri, 27 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283724