https://www.taxtmi.com/caselaws?id=301143 The Tribunal dismissed the Revenue's appeal against the ld. CIT(A)'s decision to delete the disallowance under section 36(1)(iii) of the Income Tax Act for Assessment Year 2010-11. The Tribunal relied on precedents from previous assessment years where similar disallowances were overturned, emphasizing that interest expenditure for earning income should be allowed. The Tribunal found no basis to challenge the decision and affirmed the deletion of the disallowance, concluding in favor of the assessee. en-us Wed, 19 Sep 2018 00:00:00 +0530 Tue, 15 Mar 2022 08:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301143 The Tribunal dismissed the Revenue's appeal against the ld. CIT(A)'s decision to delete the disallowance under section 36(1)(iii) of the Income Tax Act for Assessment Year 2010-11. The Tribunal relied on precedents from previous assessment years where similar disallowances were overturned, emphasizing that interest expenditure for earning income should be allowed. The Tribunal found no basis to challenge the decision and affirmed the deletion of the disallowance, concluding in favor of the assessee. Case-Laws Income Tax Wed, 19 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301143