https://www.taxtmi.com/caselaws?id=395563 The Tribunal dismissed the appeal of the assessee concerning disallowance u/s 36(1)(iii) of Rs. 8,35,805, citing lack of evidence for commercial expediency and impact on income from loans to sister concerns. The High Court remitted the issue back to the Assessing Officer for further examination on the grounds of own funds and commercial expediency. The judgment underscored the necessity of substantiating claims of commercial expediency and purpose for loans to avail deductions under section 36(1)(iii) of the Income Tax Act. en-us Mon, 09 Mar 2020 00:00:00 +0530 Wed, 27 May 2020 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395563 The Tribunal dismissed the appeal of the assessee concerning disallowance u/s 36(1)(iii) of Rs. 8,35,805, citing lack of evidence for commercial expediency and impact on income from loans to sister concerns. The High Court remitted the issue back to the Assessing Officer for further examination on the grounds of own funds and commercial expediency. The judgment underscored the necessity of substantiating claims of commercial expediency and purpose for loans to avail deductions under section 36(1)(iii) of the Income Tax Act. Case-Laws Income Tax Mon, 09 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395563