https://www.taxtmi.com/caselaws?id=435169 The Tribunal partly allowed the appeal of the assessee. Ground number 1 was allowed as the Tribunal held that no disallowance of interest expense of Rs. 2,36,855/- could be justified due to substantial interest-free funds held by the assessee. Grounds number 2 and 3 were allowed for statistical purposes as the Revenue Authorities did not thoroughly examine evidence regarding TDS on rent payments. Ground number 4 was dismissed, upholding the disallowance of depreciation of Rs. 4,29,627/- claimed by the assessee on plant and machinery and vehicle. en-us Fri, 03 Mar 2023 00:00:00 +0530 Mon, 13 Mar 2023 17:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435169 The Tribunal partly allowed the appeal of the assessee. Ground number 1 was allowed as the Tribunal held that no disallowance of interest expense of Rs. 2,36,855/- could be justified due to substantial interest-free funds held by the assessee. Grounds number 2 and 3 were allowed for statistical purposes as the Revenue Authorities did not thoroughly examine evidence regarding TDS on rent payments. Ground number 4 was dismissed, upholding the disallowance of depreciation of Rs. 4,29,627/- claimed by the assessee on plant and machinery and vehicle. Case-Laws Income Tax Fri, 03 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435169