https://www.taxtmi.com/caselaws?id=771951 ITAT Delhi allowed the assessee's appeal on multiple grounds. The tribunal deleted disallowances for unclaimed balances written off as bad debts, finding the amounts were previously offered for taxation and properly written off. Prior period expenses were allowed as they related to business operations with no tax rate changes between years. Addition for advance received on land sale was allowed for statistical purposes after the assessee demonstrated the amount was offered to tax in subsequent year. Deemed dividend addition under section 2(22)(e) was deleted as authorities failed to examine if loans were advanced in ordinary course of business. Repairs and maintenance expenses for rented administrative office were held to be revenue in nature, not capital. Interest expenditure disallowance was deleted applying the principle that advances are presumed made from owned funds when sufficient owned funds are available. en-us Thu, 29 May 2025 00:00:00 +0530 Mon, 02 Jun 2025 08:34:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771951 ITAT Delhi allowed the assessee's appeal on multiple grounds. The tribunal deleted disallowances for unclaimed balances written off as bad debts, finding the amounts were previously offered for taxation and properly written off. Prior period expenses were allowed as they related to business operations with no tax rate changes between years. Addition for advance received on land sale was allowed for statistical purposes after the assessee demonstrated the amount was offered to tax in subsequent year. Deemed dividend addition under section 2(22)(e) was deleted as authorities failed to examine if loans were advanced in ordinary course of business. Repairs and maintenance expenses for rented administrative office were held to be revenue in nature, not capital. Interest expenditure disallowance was deleted applying the principle that advances are presumed made from owned funds when sufficient owned funds are available. Case-Laws Income Tax Thu, 29 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771951