https://www.taxtmi.com/caselaws?id=387680 The Tribunal allowed the appeal for statistical purposes, remitting all issues back to the Assessing Officer (AO) for fresh adjudication. The AO was directed to reconsider the disallowances and adjustments, taking into account the Tribunal's observations and relevant judicial pronouncements. The Tribunal found that the AO had not properly established the nexus between borrowed funds and investments, lease rental income was to be re-examined, and the disallowance of interest under Section 36(1)(iii) required further scrutiny based on the actual usage of funds for capital advances. en-us Tue, 15 Oct 2019 00:00:00 +0530 Tue, 29 Oct 2019 19:34:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387680 The Tribunal allowed the appeal for statistical purposes, remitting all issues back to the Assessing Officer (AO) for fresh adjudication. The AO was directed to reconsider the disallowances and adjustments, taking into account the Tribunal's observations and relevant judicial pronouncements. The Tribunal found that the AO had not properly established the nexus between borrowed funds and investments, lease rental income was to be re-examined, and the disallowance of interest under Section 36(1)(iii) required further scrutiny based on the actual usage of funds for capital advances. Case-Laws Income Tax Tue, 15 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387680