https://www.taxtmi.com/caselaws?id=242716 The Tribunal allowed the appeal of the assessee, ruling in favor of the company and against the disallowance under Section 36(1)(iii) of the Income Tax Act. The Tribunal found that the amounts in question were advances for material supply and not interest-free loans, thereby negating the need for disallowance. Additionally, the Tribunal canceled the enhancement made by the Commissioner of Income Tax (Appeals) without prior notice, citing procedural and factual inaccuracies. The order was pronounced on 12th July 2013. en-us Fri, 12 Jul 2013 00:00:00 +0530 Sun, 19 Jan 2014 16:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242716 The Tribunal allowed the appeal of the assessee, ruling in favor of the company and against the disallowance under Section 36(1)(iii) of the Income Tax Act. The Tribunal found that the amounts in question were advances for material supply and not interest-free loans, thereby negating the need for disallowance. Additionally, the Tribunal canceled the enhancement made by the Commissioner of Income Tax (Appeals) without prior notice, citing procedural and factual inaccuracies. The order was pronounced on 12th July 2013. Case-Laws Income Tax Fri, 12 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242716