https://www.taxtmi.com/caselaws?id=762329 The appellate tribunal dismissed the revenue's appeal challenging the deletion of interest expenses by the Ld. CIT(A). The tribunal upheld the Ld. CIT(A)'s order, determining that the non-charging of interest on certain loans was justified by commercial expediency and that the interest expenditure was allowable as a business expense. The decision was supported by relevant case law and statutory provisions, confirming that the disallowance of the entire interest was not sustainable under the law. en-us Wed, 27 Nov 2024 00:00:00 +0530 Thu, 28 Nov 2024 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762329 The appellate tribunal dismissed the revenue's appeal challenging the deletion of interest expenses by the Ld. CIT(A). The tribunal upheld the Ld. CIT(A)'s order, determining that the non-charging of interest on certain loans was justified by commercial expediency and that the interest expenditure was allowable as a business expense. The decision was supported by relevant case law and statutory provisions, confirming that the disallowance of the entire interest was not sustainable under the law. Case-Laws Income Tax Wed, 27 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762329