https://www.taxtmi.com/caselaws?id=769573 The ITAT Kolkata partially allowed the assessee's appeal. The tribunal deleted additions on oil and fuel expenses, finding the AO's adhoc disallowance based on presumptions without valid basis, noting 28% diesel price escalation during the period. Similarly, truck running expenses disallowance was deleted as AO failed to objectively examine expenses despite increased toll taxes. For finance charges on self-occupied property, the tribunal directed AO to allow interest under Section 24(b) subject to prescribed ceiling. Issues regarding TDS under Section 194A and unsecured loan differences were restored to AO for verification with adequate hearing opportunity. en-us Fri, 25 Apr 2025 00:00:00 +0530 Mon, 28 Apr 2025 08:35:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769573 The ITAT Kolkata partially allowed the assessee's appeal. The tribunal deleted additions on oil and fuel expenses, finding the AO's adhoc disallowance based on presumptions without valid basis, noting 28% diesel price escalation during the period. Similarly, truck running expenses disallowance was deleted as AO failed to objectively examine expenses despite increased toll taxes. For finance charges on self-occupied property, the tribunal directed AO to allow interest under Section 24(b) subject to prescribed ceiling. Issues regarding TDS under Section 194A and unsecured loan differences were restored to AO for verification with adequate hearing opportunity. Case-Laws Income Tax Fri, 25 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769573