https://www.taxtmi.com/caselaws?id=176952 The Court upheld the Tribunal's decision regarding the disallowance of interest and deletion of interest-free loans for non-business purposes under section 260A of the Income-tax Act. The Court found a business connection for interest deductions under section 36(1)(iii) of the Act, emphasizing commercial expediency for interest-free loans to sister concerns. Consequently, all three appeals by the revenue were dismissed as the Court found no substantial question of law in the Tribunal's order. en-us Tue, 15 Jul 2008 00:00:00 +0530 Thu, 31 Dec 2015 15:51:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176952 The Court upheld the Tribunal's decision regarding the disallowance of interest and deletion of interest-free loans for non-business purposes under section 260A of the Income-tax Act. The Court found a business connection for interest deductions under section 36(1)(iii) of the Act, emphasizing commercial expediency for interest-free loans to sister concerns. Consequently, all three appeals by the revenue were dismissed as the Court found no substantial question of law in the Tribunal's order. Case-Laws Income Tax Tue, 15 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176952