https://www.taxtmi.com/caselaws?id=59470 The Tribunal allowed the assessee's appeals and dismissed the Revenue's appeal. The disallowance of interest under Section 36(1)(iii) for the asst. yr. 1989-90 was deleted based on a previous favorable Tribunal decision. The disallowance of interest paid to M/s P.J. Pipes & Vessels was overturned, finding the interest paid at 21% reasonable. The addition of interest receivable on advance to M/s Apurva Tubes was deleted due to lack of recovery possibility. The additions on inflated purchases and opening stock valuation were also deleted as genuine. Excess rent disallowance and interest amount disallowance were both overturned. en-us Tue, 15 Feb 2005 00:00:00 +0530 Wed, 29 Dec 2010 18:53:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59470 The Tribunal allowed the assessee's appeals and dismissed the Revenue's appeal. The disallowance of interest under Section 36(1)(iii) for the asst. yr. 1989-90 was deleted based on a previous favorable Tribunal decision. The disallowance of interest paid to M/s P.J. Pipes & Vessels was overturned, finding the interest paid at 21% reasonable. The addition of interest receivable on advance to M/s Apurva Tubes was deleted due to lack of recovery possibility. The additions on inflated purchases and opening stock valuation were also deleted as genuine. Excess rent disallowance and interest amount disallowance were both overturned. Case-Laws Income Tax Tue, 15 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59470