https://www.taxtmi.com/caselaws?id=284496 The Tribunal allowed the appeal, deleting the disallowance made by the AO and permitting the interest expenditure under section 57(iii). The judgment emphasized the relevance of commercial expediency and the direct nexus between expenditure and income, aligning with established legal precedents. The decision impacts the total income determination and potentially the penalty proceedings initiated under section 271(1)(c). en-us Fri, 27 Apr 2018 00:00:00 +0530 Fri, 22 Nov 2019 09:53:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284496 The Tribunal allowed the appeal, deleting the disallowance made by the AO and permitting the interest expenditure under section 57(iii). The judgment emphasized the relevance of commercial expediency and the direct nexus between expenditure and income, aligning with established legal precedents. The decision impacts the total income determination and potentially the penalty proceedings initiated under section 271(1)(c). Case-Laws Income Tax Fri, 27 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284496