https://www.taxtmi.com/caselaws?id=387434 The Tribunal upheld the decision of the Ld. CIT(A) to disallow interest expenses under section 36(1)(iii) of the Income Tax Act, citing the Assessee's failure to substantiate the business purpose of the advance against the property. Despite the Assessee's submission of supporting documents during the appeal, the Tribunal found no grounds to interfere with the lower authorities' well-reasoned order. Consequently, the Assessee's appeal was dismissed on 18-10-2019. en-us Fri, 18 Oct 2019 00:00:00 +0530 Wed, 23 Oct 2019 14:24:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387434 The Tribunal upheld the decision of the Ld. CIT(A) to disallow interest expenses under section 36(1)(iii) of the Income Tax Act, citing the Assessee's failure to substantiate the business purpose of the advance against the property. Despite the Assessee's submission of supporting documents during the appeal, the Tribunal found no grounds to interfere with the lower authorities' well-reasoned order. Consequently, the Assessee's appeal was dismissed on 18-10-2019. Case-Laws Income Tax Fri, 18 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387434