https://www.taxtmi.com/caselaws?id=214857 The Tribunal allowed the appeal, deleting the addition made under Sec. 36(1)(iii) of the I.T. Act for the assessment year 1995-96. The Tribunal found that there was no direct nexus between interest-bearing borrowed funds and interest-free advances, leading to the conclusion that the addition was not justified. Consequently, the Tribunal ruled in favor of the appellant, deleting the addition and allowing the appeal on all grounds. en-us Fri, 01 Jun 2012 00:00:00 +0530 Wed, 18 Jul 2012 08:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214857 The Tribunal allowed the appeal, deleting the addition made under Sec. 36(1)(iii) of the I.T. Act for the assessment year 1995-96. The Tribunal found that there was no direct nexus between interest-bearing borrowed funds and interest-free advances, leading to the conclusion that the addition was not justified. Consequently, the Tribunal ruled in favor of the appellant, deleting the addition and allowing the appeal on all grounds. Case-Laws Income Tax Fri, 01 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214857