https://www.taxtmi.com/caselaws?id=271518 The Tribunal upheld the CIT(A)'s decisions in both issues, emphasizing that the transactions were conducted in the ordinary course of business and were supported by legal precedents. The addition under section 2(22)(e) of the Income Tax Act was deleted as the loan was part of the company's ordinary business activities. Additionally, the deletion of the addition on account of interest income was affirmed, with the Tribunal ruling that the interest rates were reasonable based on market conditions and the nature of the assessee's business operations. en-us Fri, 20 Nov 2015 00:00:00 +0530 Mon, 08 Feb 2016 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271518 The Tribunal upheld the CIT(A)'s decisions in both issues, emphasizing that the transactions were conducted in the ordinary course of business and were supported by legal precedents. The addition under section 2(22)(e) of the Income Tax Act was deleted as the loan was part of the company's ordinary business activities. Additionally, the deletion of the addition on account of interest income was affirmed, with the Tribunal ruling that the interest rates were reasonable based on market conditions and the nature of the assessee's business operations. Case-Laws Income Tax Fri, 20 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271518