https://www.taxtmi.com/caselaws?id=415492 The appeal was allowed by the tribunal, overturning the disallowance of interest expenses on a short-term business loan. The delay in filing the appeal was condoned due to the Covid-19 pandemic, and the tribunal admitted and addressed the additional ground challenging the disallowance without incriminating material. The tribunal emphasized the necessity of incriminating material for disturbing an unabated assessment and directed the assessing officer to delete the disallowance of interest expenses. As a result, the appeal outcome favored the assessee, and the decision was rendered on 30/11/2021. en-us Tue, 30 Nov 2021 00:00:00 +0530 Mon, 06 Dec 2021 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415492 The appeal was allowed by the tribunal, overturning the disallowance of interest expenses on a short-term business loan. The delay in filing the appeal was condoned due to the Covid-19 pandemic, and the tribunal admitted and addressed the additional ground challenging the disallowance without incriminating material. The tribunal emphasized the necessity of incriminating material for disturbing an unabated assessment and directed the assessing officer to delete the disallowance of interest expenses. As a result, the appeal outcome favored the assessee, and the decision was rendered on 30/11/2021. Case-Laws Income Tax Tue, 30 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415492