https://www.taxtmi.com/caselaws?id=401367 The Tribunal allowed the appeal, overturning the disallowance of interest expenses and the addition of notional interest income. It emphasized the need to prove expenses were for business purposes and highlighted that no additions can be made based on presumptions of notional income without concrete evidence. en-us Wed, 11 Nov 2020 00:00:00 +0530 Sat, 05 Dec 2020 18:03:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401367 The Tribunal allowed the appeal, overturning the disallowance of interest expenses and the addition of notional interest income. It emphasized the need to prove expenses were for business purposes and highlighted that no additions can be made based on presumptions of notional income without concrete evidence. Case-Laws Income Tax Wed, 11 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401367