https://www.taxtmi.com/caselaws?id=300824 The Tribunal allowed the appeal on the disallowance of interest expenses under section 36(i)(iii) of the Income Tax Act, 1961, directing a fresh assessment by the assessing officer. The appeal on the addition made on account of exchange rate difference was dismissed due to lack of submission and consideration. The Tribunal emphasized the importance of clear findings on the availability of interest-free funds and the purpose of advances, prompting a reevaluation by the assessing officer. en-us Thu, 21 Feb 2019 00:00:00 +0530 Sun, 27 Feb 2022 20:35:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300824 The Tribunal allowed the appeal on the disallowance of interest expenses under section 36(i)(iii) of the Income Tax Act, 1961, directing a fresh assessment by the assessing officer. The appeal on the addition made on account of exchange rate difference was dismissed due to lack of submission and consideration. The Tribunal emphasized the importance of clear findings on the availability of interest-free funds and the purpose of advances, prompting a reevaluation by the assessing officer. Case-Laws Income Tax Thu, 21 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300824