https://www.taxtmi.com/caselaws?id=213207 The High Court upheld the Tribunal's decision, affirming that the interest-free funds were sufficient for the investments and advances made by the assessee. The Court confirmed that the investments and advances were for business purposes, in line with the principles established in S.A. Builders. Consequently, the Court concluded that the disallowance of interest by the Revenue was not justified, leading to the dismissal of the Revenue's appeal. en-us Wed, 28 Mar 2012 00:00:00 +0530 Sat, 12 May 2012 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213207 The High Court upheld the Tribunal's decision, affirming that the interest-free funds were sufficient for the investments and advances made by the assessee. The Court confirmed that the investments and advances were for business purposes, in line with the principles established in S.A. Builders. Consequently, the Court concluded that the disallowance of interest by the Revenue was not justified, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Wed, 28 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213207