https://www.taxtmi.com/caselaws?id=410133 The Tribunal allowed the appellant's appeal, overturning the decision of the Ld. CIT(A) to disallow interest expenditure. The Tribunal held that the disallowance was not justified as the appellant had sufficient own funds to cover the interest-free loans and investments. Citing legal precedents, the Tribunal emphasized that interest disallowance is not warranted when the assessee has ample own funds. Consequently, the Tribunal directed the Assessing Officer to delete the disallowance, without the need to address the commercial expediency of the transactions. The appellant's appeal was successful, with the order pronounced on 28th June 2021. en-us Mon, 28 Jun 2021 00:00:00 +0530 Mon, 26 Jul 2021 09:13:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410133 The Tribunal allowed the appellant's appeal, overturning the decision of the Ld. CIT(A) to disallow interest expenditure. The Tribunal held that the disallowance was not justified as the appellant had sufficient own funds to cover the interest-free loans and investments. Citing legal precedents, the Tribunal emphasized that interest disallowance is not warranted when the assessee has ample own funds. Consequently, the Tribunal directed the Assessing Officer to delete the disallowance, without the need to address the commercial expediency of the transactions. The appellant's appeal was successful, with the order pronounced on 28th June 2021. Case-Laws Income Tax Mon, 28 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410133