https://www.taxtmi.com/caselaws?id=423718 The Tribunal allowed both appeals filed by the assessee, directing the deletion of the disallowed interest expenses under Section 36(1)(iii) of the Income Tax Act and the addition of excess depreciation claim and interest on late payment of TDS. The Tribunal found the Assessing Officer's reasoning flawed and unsupported, emphasizing the commercial expediency of the assessee's actions in lending to sister concerns at lower rates. The order was pronounced on 23/05/2022. en-us Mon, 23 May 2022 00:00:00 +0530 Mon, 13 Jun 2022 14:08:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423718 The Tribunal allowed both appeals filed by the assessee, directing the deletion of the disallowed interest expenses under Section 36(1)(iii) of the Income Tax Act and the addition of excess depreciation claim and interest on late payment of TDS. The Tribunal found the Assessing Officer's reasoning flawed and unsupported, emphasizing the commercial expediency of the assessee's actions in lending to sister concerns at lower rates. The order was pronounced on 23/05/2022. Case-Laws Income Tax Mon, 23 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423718