https://www.taxtmi.com/caselaws?id=268795 The Tribunal upheld the decision to disallow the interest claimed by the appellant for notional interest on amounts advanced to another company. Despite detailed explanations and reliance on legal precedents, the Tribunal found no evidence of surplus funds available for interest-free loans, concluding that the appellant did not have justification for such advances. The Tribunal dismissed the appeal, emphasizing the lack of merit in challenging the addition of notional interest based on the appellant's financial records and the inapplicability of cited case laws to the situation. en-us Fri, 04 Sep 2015 00:00:00 +0530 Wed, 02 Dec 2015 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268795 The Tribunal upheld the decision to disallow the interest claimed by the appellant for notional interest on amounts advanced to another company. Despite detailed explanations and reliance on legal precedents, the Tribunal found no evidence of surplus funds available for interest-free loans, concluding that the appellant did not have justification for such advances. The Tribunal dismissed the appeal, emphasizing the lack of merit in challenging the addition of notional interest based on the appellant's financial records and the inapplicability of cited case laws to the situation. Case-Laws Income Tax Fri, 04 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268795