https://www.taxtmi.com/caselaws?id=395420 The Tribunal ruled in favor of the assessee, overturning the disallowance of proportionate interest expenses by the Assessing Officer. The Tribunal emphasized that no disallowance was warranted as the assessee had sufficient own funds and interest-free advances received exceeded the interest-free advances made. Consequently, the proportionate disallowance of interest expenses amounting to Rs. 94,23,665 was deleted, and the assessee's appeal was allowed. en-us Tue, 28 Jan 2020 00:00:00 +0530 Thu, 21 May 2020 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395420 The Tribunal ruled in favor of the assessee, overturning the disallowance of proportionate interest expenses by the Assessing Officer. The Tribunal emphasized that no disallowance was warranted as the assessee had sufficient own funds and interest-free advances received exceeded the interest-free advances made. Consequently, the proportionate disallowance of interest expenses amounting to Rs. 94,23,665 was deleted, and the assessee's appeal was allowed. Case-Laws Income Tax Tue, 28 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395420