https://www.taxtmi.com/caselaws?id=247878 The Tribunal upheld the CIT(A)'s decisions in both issues, dismissing the Revenue's appeal in its entirety. The deletion of the addition of Rs. 59.09 lakhs as bad debt for advances to the subsidiary company was allowed as a business loss. Additionally, the deletion of the addition of Rs. 49.69 lakhs on account of interest was upheld, as the advances were found to be for business purposes based on the company's financial position and previous interest charges. en-us Wed, 30 Apr 2014 00:00:00 +0530 Mon, 26 May 2014 10:54:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247878 The Tribunal upheld the CIT(A)'s decisions in both issues, dismissing the Revenue's appeal in its entirety. The deletion of the addition of Rs. 59.09 lakhs as bad debt for advances to the subsidiary company was allowed as a business loss. Additionally, the deletion of the addition of Rs. 49.69 lakhs on account of interest was upheld, as the advances were found to be for business purposes based on the company's financial position and previous interest charges. Case-Laws Income Tax Wed, 30 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247878