https://www.taxtmi.com/caselaws?id=388936 Business promotion expenditure could not be disallowed in full where the record showed some supporting material but not complete substantiation; a reasonable lump-sum disallowance was considered appropriate, reducing the disallowance to Rs. 1,00,000. Interest from bank deposits of surplus or statutory funds was not treated as automatically eligible for deduction under section 80P(2)(a)(i), because such income was not necessarily attributable to the credit business. However, the related expenditure had to be considered on a net basis, so the disallowance was directed to be recomputed after netting the relevant income and interest . en-us Fri, 22 Nov 2019 00:00:00 +0530 Wed, 27 Nov 2019 13:39:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388936 Business promotion expenditure could not be disallowed in full where the record showed some supporting material but not complete substantiation; a reasonable lump-sum disallowance was considered appropriate, reducing the disallowance to Rs. 1,00,000. Interest from bank deposits of surplus or statutory funds was not treated as automatically eligible for deduction under section 80P(2)(a)(i), because such income was not necessarily attributable to the credit business. However, the related expenditure had to be considered on a net basis, so the disallowance was directed to be recomputed after netting the relevant income and interest . Case-Laws Income Tax Fri, 22 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388936