Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (12) TMI 1450 - ITAT DELHIDisallowance u/s 36(1)(iii) - interest bearing funds have been utilized for non - business purposes - Held that:- The advances have been made to M/s Suresh Goel & Son (HUF) for the purpose of the business and on account of commercial expediency, and it has not been established by the learned Assessing Officer that advances are for non-business purposes and as such, disallowance made by the learned Assessing Officer is unsustainable in law. We direct the Assessing Officer to delete the addition. The appeal filed by the assessee is allowed.
|