https://www.taxtmi.com/caselaws?id=463694 ITAT JAIPUR - AT set aside the disallowance relating to interest on borrowed funds and remitted the issue to the AO for fresh examination after allowing the assessee a reasonable opportunity, noting that contentions for and against required proper documentary proof and citing SC precedent. The tribunal deleted ad hoc 10% disallowances on telephone, vehicle repair/maintenance, car depreciation, staff welfare and travelling expenses and disallowed bonus adjustment, holding such adhoc reductions unsustainable and that alleged personal use was unproven and conceptually inapplicable to a corporate entity. en-us Fri, 11 Mar 2016 00:00:00 +0530 Fri, 12 Sep 2025 08:45:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463694 ITAT JAIPUR - AT set aside the disallowance relating to interest on borrowed funds and remitted the issue to the AO for fresh examination after allowing the assessee a reasonable opportunity, noting that contentions for and against required proper documentary proof and citing SC precedent. The tribunal deleted ad hoc 10% disallowances on telephone, vehicle repair/maintenance, car depreciation, staff welfare and travelling expenses and disallowed bonus adjustment, holding such adhoc reductions unsustainable and that alleged personal use was unproven and conceptually inapplicable to a corporate entity. Case-Laws Income Tax Fri, 11 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463694