https://www.taxtmi.com/caselaws?id=59067 The Tribunal dismissed both appeals, affirming the CIT(A)'s decision to disallow interest paid for discounting bills linked to financial accommodations for RTI. The Tribunal found the interest expenditure not wholly and exclusively for business purposes, emphasizing the lack of evidence supporting claimed business benefits from the RTI relationship. The disallowance was upheld as the interest paid was deemed not directly related to the assessee's business activities. en-us Wed, 30 Jan 1991 00:00:00 +0530 Thu, 23 Dec 2010 17:31:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59067 The Tribunal dismissed both appeals, affirming the CIT(A)'s decision to disallow interest paid for discounting bills linked to financial accommodations for RTI. The Tribunal found the interest expenditure not wholly and exclusively for business purposes, emphasizing the lack of evidence supporting claimed business benefits from the RTI relationship. The disallowance was upheld as the interest paid was deemed not directly related to the assessee's business activities. Case-Laws Income Tax Wed, 30 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59067