https://www.taxtmi.com/caselaws?id=394873 The Tribunal allowed the appeal for statistical purposes, directing fresh adjudication by the CIT(A) on the limited aspect of the assessee's entitlement for deduction under Section 36(1)(iii) regarding interest expenditure related to certain advances. The Tribunal vacated the disallowance of interest expenditure concerning a specific amount recoverable from a company, finding no nexus with borrowed funds. The matter was remanded to the CIT(A) for further examination and providing the assessee with a reasonable opportunity to present its case. en-us Thu, 20 Feb 2020 00:00:00 +0530 Mon, 27 Apr 2020 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394873 The Tribunal allowed the appeal for statistical purposes, directing fresh adjudication by the CIT(A) on the limited aspect of the assessee's entitlement for deduction under Section 36(1)(iii) regarding interest expenditure related to certain advances. The Tribunal vacated the disallowance of interest expenditure concerning a specific amount recoverable from a company, finding no nexus with borrowed funds. The matter was remanded to the CIT(A) for further examination and providing the assessee with a reasonable opportunity to present its case. Case-Laws Income Tax Thu, 20 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394873