https://www.taxtmi.com/caselaws?id=214753 The ITAT Delhi upheld the decision of the Ld CIT(A) to delete the addition of interest expenditure paid to specified persons as the Assessing Officer failed to establish the nexus between interest-bearing borrowings and interest-free advances/loans. The Tribunal found that the assessee had adequate interest-free funds to provide interest-free loans, leading to the dismissal of the revenue's appeal. en-us Fri, 25 May 2012 00:00:00 +0530 Sat, 14 Jul 2012 06:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214753 The ITAT Delhi upheld the decision of the Ld CIT(A) to delete the addition of interest expenditure paid to specified persons as the Assessing Officer failed to establish the nexus between interest-bearing borrowings and interest-free advances/loans. The Tribunal found that the assessee had adequate interest-free funds to provide interest-free loans, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Fri, 25 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214753