https://www.taxtmi.com/caselaws?id=71569 The tribunal allowed the assessee's appeal regarding the disallowance under section 36(1)(iii) for interest payable on advances given without interest. The tribunal upheld the CIT(A)'s decision in favor of the assessee, directing the Assessing Officer to verify if payments to sister concerns were made from business profits and interest-free receipts in the overdraft account. The tribunal found merit in the assessee's argument, citing legal precedents and emphasizing the need for detailed investigation to validate the claim, ultimately setting aside the CIT(A)'s order for further examination. en-us Tue, 12 Oct 1999 00:00:00 +0530 Mon, 25 Apr 2011 16:56:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71569 The tribunal allowed the assessee's appeal regarding the disallowance under section 36(1)(iii) for interest payable on advances given without interest. The tribunal upheld the CIT(A)'s decision in favor of the assessee, directing the Assessing Officer to verify if payments to sister concerns were made from business profits and interest-free receipts in the overdraft account. The tribunal found merit in the assessee's argument, citing legal precedents and emphasizing the need for detailed investigation to validate the claim, ultimately setting aside the CIT(A)'s order for further examination. Case-Laws Income Tax Tue, 12 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71569