{"id":58105,"date":"2026-01-10T09:51:19","date_gmt":"2026-01-10T04:21:19","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-bhupendra-champaklal-delal-2024-160-taxmann-com-560-bom-hc-2\/"},"modified":"2026-01-10T09:51:19","modified_gmt":"2026-01-10T04:21:19","slug":"pcit-v-bhupendra-champaklal-delal-2024-160-taxmann-com-560-bom-hc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-bhupendra-champaklal-delal-2024-160-taxmann-com-560-bom-hc-2\/","title":{"rendered":"PCIT, v. Bhupendra Champaklal Delal [2024] 160 taxmann.com 560 (Bom.)(HC)"},"content":{"rendered":"<p>Held that disallowance of interest expenses\u00a0 was improper as the Assessing Officer ignored the presumption that where an Assessee has mixed funds, interest-free advances are deemed to be given out of interest-free funds. Since the Assessing Officer had failed to base his findings on a constructive examination of the evidence on record, the deletions were held to be justified. (AY. 1988-89)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) :Interest on borrowed capital-Mixed funds-Interest-free advances are deemed to be given out of interest-free funds-Order of Tribunal deleting the disallowance is affirmed.[S. 260A]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-58105","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-f7b","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/58105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=58105"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/58105\/revisions"}],"predecessor-version":[{"id":58106,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/58105\/revisions\/58106"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=58105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=58105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=58105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}