https://www.taxtmi.com/caselaws?id=412463 The ITAT partially allowed the appeals, emphasizing the importance of adhering to statutory provisions and ensuring proper calculation of expenses and interest payments in accordance with the law. The disallowance of TDS payable was overturned as the assessee had paid the amounts within the prescribed due date despite following a cash system of accounting. The disallowance of electricity expenses was also reversed due to lack of proper basis for the disallowance. Regarding the disallowance of interest under section 40(b) of the Act, the ITAT directed a recalculation in line with the partnership deed and statutory provisions. en-us Thu, 16 Sep 2021 00:00:00 +0530 Fri, 17 Sep 2021 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412463 The ITAT partially allowed the appeals, emphasizing the importance of adhering to statutory provisions and ensuring proper calculation of expenses and interest payments in accordance with the law. The disallowance of TDS payable was overturned as the assessee had paid the amounts within the prescribed due date despite following a cash system of accounting. The disallowance of electricity expenses was also reversed due to lack of proper basis for the disallowance. Regarding the disallowance of interest under section 40(b) of the Act, the ITAT directed a recalculation in line with the partnership deed and statutory provisions. Case-Laws Income Tax Thu, 16 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412463