https://www.taxtmi.com/caselaws?id=257125 The appellate tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the addition of the difference between interest received and paid to sister concerns. The tribunal found the transactions genuine, properly recorded, and used for legitimate business purposes, dismissing the Revenue's appeal. The tribunal emphasized the lack of profit in the transaction did not warrant disallowance, and there was no evidence to support the AO's claim of sham transactions between sister concerns. en-us Mon, 12 Jan 2015 00:00:00 +0530 Tue, 03 Mar 2015 07:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257125 The appellate tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the addition of the difference between interest received and paid to sister concerns. The tribunal found the transactions genuine, properly recorded, and used for legitimate business purposes, dismissing the Revenue's appeal. The tribunal emphasized the lack of profit in the transaction did not warrant disallowance, and there was no evidence to support the AO's claim of sham transactions between sister concerns. Case-Laws Income Tax Mon, 12 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257125