https://www.taxtmi.com/caselaws?id=233862 The ITAT partially allowed the appeal, ruling in favor of the assessee on the disallowance of interest on advances made to sister concerns from profits but upholding the disallowance on advances from packing credit limits. It directed the AO to set off interest income against interest expenditure for deduction under Section 10B, allowing the deduction on the sale proceeds of Bardana. The ITAT ordered the AO to allow 100% deduction under Section 10B, contrary to the CIT(A)'s decision of restricting it to 90% for one year. en-us Fri, 05 Apr 2013 00:00:00 +0530 Sat, 18 May 2013 10:05:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233862 The ITAT partially allowed the appeal, ruling in favor of the assessee on the disallowance of interest on advances made to sister concerns from profits but upholding the disallowance on advances from packing credit limits. It directed the AO to set off interest income against interest expenditure for deduction under Section 10B, allowing the deduction on the sale proceeds of Bardana. The ITAT ordered the AO to allow 100% deduction under Section 10B, contrary to the CIT(A)'s decision of restricting it to 90% for one year. Case-Laws Income Tax Fri, 05 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233862