https://www.taxtmi.com/caselaws?id=175146 The Tribunal allowed the Revenue's appeal and dismissed the assessee's appeal. The Tribunal reinstated the Assessing Officer's order, disallowing the interest payments made by the assessee to banks due to advancing interest-free loans to its sister concerns. The Tribunal found that the commercial expediency in advancing funds was not established by the assessee. Additionally, the Tribunal upheld the CIT(A)'s decision on the losses of earlier years, citing lack of evidence supporting their allowance under the law. en-us Tue, 07 Aug 2012 00:00:00 +0530 Fri, 28 Jul 2017 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175146 The Tribunal allowed the Revenue's appeal and dismissed the assessee's appeal. The Tribunal reinstated the Assessing Officer's order, disallowing the interest payments made by the assessee to banks due to advancing interest-free loans to its sister concerns. The Tribunal found that the commercial expediency in advancing funds was not established by the assessee. Additionally, the Tribunal upheld the CIT(A)'s decision on the losses of earlier years, citing lack of evidence supporting their allowance under the law. Case-Laws Income Tax Tue, 07 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175146