https://www.taxtmi.com/caselaws?id=263229 The Tribunal allowed the appeal for statistical purposes, emphasizing the necessity of examining the purpose behind interest-free advances to group concerns and commercial expediency. The decision highlighted the importance of establishing a direct nexus between funds utilized and business activities to determine disallowance under section 36(1)(iii) of the Income-tax Act, 1961. The matter was remanded to the Assessing Officer for a fresh examination considering own funds and collaboration agreements to ascertain if advances were made for business expediency. en-us Wed, 29 Apr 2015 00:00:00 +0530 Sat, 29 Aug 2015 05:57:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263229 The Tribunal allowed the appeal for statistical purposes, emphasizing the necessity of examining the purpose behind interest-free advances to group concerns and commercial expediency. The decision highlighted the importance of establishing a direct nexus between funds utilized and business activities to determine disallowance under section 36(1)(iii) of the Income-tax Act, 1961. The matter was remanded to the Assessing Officer for a fresh examination considering own funds and collaboration agreements to ascertain if advances were made for business expediency. Case-Laws Income Tax Wed, 29 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263229