https://www.taxtmi.com/caselaws?id=63771 The ITAT allowed the appeal in favor of the assessee, deleting the disallowance of interest for the assessment years 1982-83 to 1984-85. The ITAT found no nexus between the funds used for shareholding and bank loans, contrary to the AO's decision. They disagreed with the CIT(A)'s stance that Tribunal decisions do not become law and emphasized that the assessee should receive relief based on consistent findings. Consequently, the ITAT ordered the AO to permit the claimed interest for the relevant assessment years. en-us Fri, 28 Nov 1997 00:00:00 +0530 Tue, 01 Feb 2011 17:11:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63771 The ITAT allowed the appeal in favor of the assessee, deleting the disallowance of interest for the assessment years 1982-83 to 1984-85. The ITAT found no nexus between the funds used for shareholding and bank loans, contrary to the AO's decision. They disagreed with the CIT(A)'s stance that Tribunal decisions do not become law and emphasized that the assessee should receive relief based on consistent findings. Consequently, the ITAT ordered the AO to permit the claimed interest for the relevant assessment years. Case-Laws Income Tax Fri, 28 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63771