https://www.taxtmi.com/caselaws?id=249825 The appeal by the Assessee was allowed by the ITAT. The disallowance of proportionate interest amount was deleted as the ITAT found that there were sufficient interest-free funds available with the assessee to make advances. Additionally, the addition of contractual receipt based on AIR information was not sustained due to lack of evidence, and the matter was remanded to the AO for fresh assessment. Consequently, the appeal was treated as allowed by the ITAT on June 17, 2014. en-us Tue, 17 Jun 2014 00:00:00 +0530 Fri, 25 Jul 2014 14:10:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249825 The appeal by the Assessee was allowed by the ITAT. The disallowance of proportionate interest amount was deleted as the ITAT found that there were sufficient interest-free funds available with the assessee to make advances. Additionally, the addition of contractual receipt based on AIR information was not sustained due to lack of evidence, and the matter was remanded to the AO for fresh assessment. Consequently, the appeal was treated as allowed by the ITAT on June 17, 2014. Case-Laws Income Tax Tue, 17 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249825