https://www.taxtmi.com/caselaws?id=419394 The Tribunal allowed the interest expenses of Rs. 14,74,654/- for the assessment year 2012-13 and Rs. 13,96,831/- for the assessment year 2013-14 under Section 57(iii) of the Income Tax Act. Additionally, it allowed 50% of the other expenses, amounting to Rs. 4,51,252/- for the assessment year 2012-13 and Rs. 5,37,688/- for the assessment year 2013-14. Both appeals by the assessee were allowed to the extent indicated, with the Tribunal emphasizing that the decision was based on the specific facts of the case and not to be considered a precedent for other assessment years. en-us Mon, 07 Mar 2022 00:00:00 +0530 Thu, 10 Mar 2022 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419394 The Tribunal allowed the interest expenses of Rs. 14,74,654/- for the assessment year 2012-13 and Rs. 13,96,831/- for the assessment year 2013-14 under Section 57(iii) of the Income Tax Act. Additionally, it allowed 50% of the other expenses, amounting to Rs. 4,51,252/- for the assessment year 2012-13 and Rs. 5,37,688/- for the assessment year 2013-14. Both appeals by the assessee were allowed to the extent indicated, with the Tribunal emphasizing that the decision was based on the specific facts of the case and not to be considered a precedent for other assessment years. Case-Laws Income Tax Mon, 07 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419394