https://www.taxtmi.com/caselaws?id=410846 The Appellate Tribunal upheld the decision of the ld. CIT (A) and dismissed the appeal of the revenue. The Tribunal found the AO's disallowance of interest expenses to be unjustified based on the detailed analysis and reasoning provided by the ld. CIT (A). The judgment favored the appellant, emphasizing the importance of establishing a direct correlation between expenses incurred and income generation, ruling in favor of the appellant and dismissing the revenue's appeal. en-us Wed, 04 Aug 2021 00:00:00 +0530 Wed, 11 Aug 2021 09:21:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410846 The Appellate Tribunal upheld the decision of the ld. CIT (A) and dismissed the appeal of the revenue. The Tribunal found the AO's disallowance of interest expenses to be unjustified based on the detailed analysis and reasoning provided by the ld. CIT (A). The judgment favored the appellant, emphasizing the importance of establishing a direct correlation between expenses incurred and income generation, ruling in favor of the appellant and dismissing the revenue's appeal. Case-Laws Income Tax Wed, 04 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410846