https://www.taxtmi.com/caselaws?id=789480 Delay in filing the Tribunal appeal was condoned on showing sufficient cause, as the record reflected management changes and the death of earlier counsel, and the Tribunal preferred substantial justice over technical lapse. On merits, proportionate interest expenditure relating to the period before the assessee-firm came into existence was disallowed because a firm is a separate taxable entity and can claim deduction only for expenditure incurred during its own existence; the addition therefore remained undisturbed. en-us Fri, 27 Feb 2026 00:00:00 +0530 Thu, 09 Apr 2026 08:09:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789480 Delay in filing the Tribunal appeal was condoned on showing sufficient cause, as the record reflected management changes and the death of earlier counsel, and the Tribunal preferred substantial justice over technical lapse. On merits, proportionate interest expenditure relating to the period before the assessee-firm came into existence was disallowed because a firm is a separate taxable entity and can claim deduction only for expenditure incurred during its own existence; the addition therefore remained undisturbed. Case-Laws Income Tax Fri, 27 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789480