TaxTMI Login
Just a moment...
AI-powered research trained on the authentic TaxTMI database.
Launch AI Search →Powered by Weblekha - Building Scalable Websites
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Highlights
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
ITAT dismissed revenue's appeal regarding disallowance under section 36(1)(iii) for interest-free advances to sister concern. Assessee company provided interest-free loan to sister concern while claiming interest deduction on secured loans from banks and financial institutions. CIT(A) deleted additions after examining remand report, finding no evidence that advances were made for non-business purposes. CIT(A) noted investee company regularly paid advance tax with effective tax rate exceeding assessee's rate. ITAT upheld CIT(A)'s decision, concluding the issue was examined correctly and additions were rightly deleted, establishing commercial expediency justified the interest-free advances despite simultaneous borrowing costs.
TaxTMI 
TaxTMI 
