https://www.taxtmi.com/caselaws?id=469916 Partner interest computed on capital balances affected by unclaimed depreciation required a proper year-wise, entry-wise recalculation; the Tribunal therefore remanded the matter to the Assessing Officer for fresh determination. The Tribunal also held that an ad hoc disallowance of expenses was excessive on the facts and restricted it to 5% of the profit and loss account expenses, resulting in a reduced addition. The appeal was thus allowed in part, with one issue sent back for reconsideration and the expenditure disallowance curtailed. en-us Tue, 11 Mar 2025 00:00:00 +0530 Wed, 08 Jul 2026 20:43:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469916 Partner interest computed on capital balances affected by unclaimed depreciation required a proper year-wise, entry-wise recalculation; the Tribunal therefore remanded the matter to the Assessing Officer for fresh determination. The Tribunal also held that an ad hoc disallowance of expenses was excessive on the facts and restricted it to 5% of the profit and loss account expenses, resulting in a reduced addition. The appeal was thus allowed in part, with one issue sent back for reconsideration and the expenditure disallowance curtailed. Case-Laws Income Tax Tue, 11 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469916