https://www.taxtmi.com/caselaws?id=426356 The appeals were partly allowed for statistical purposes, with the Tribunal directing the Assessing Officer to verify specific facts and reconsider certain disallowances based on established case law principles. The appeal by the Revenue was dismissed, affirming the disallowances related to staff training expenses, foreign travel expenses, medical expenses of family members of the Director, and interest for diversion of borrowed funds to a subsidiary company at a lower rate of interest. The Tribunal remitted the issue of interest disallowance for advancing funds to a subsidiary back to the AO for further examination. The disallowance of freight charges for non-deduction of TDS was overturned by the CIT(A) and upheld by the Tribunal. en-us Wed, 22 Jun 2022 00:00:00 +0530 Tue, 16 Aug 2022 09:03:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426356 The appeals were partly allowed for statistical purposes, with the Tribunal directing the Assessing Officer to verify specific facts and reconsider certain disallowances based on established case law principles. The appeal by the Revenue was dismissed, affirming the disallowances related to staff training expenses, foreign travel expenses, medical expenses of family members of the Director, and interest for diversion of borrowed funds to a subsidiary company at a lower rate of interest. The Tribunal remitted the issue of interest disallowance for advancing funds to a subsidiary back to the AO for further examination. The disallowance of freight charges for non-deduction of TDS was overturned by the CIT(A) and upheld by the Tribunal. Case-Laws Income Tax Wed, 22 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426356