https://www.taxtmi.com/caselaws?id=326620 The Tribunal allowed the appeals by the assessee firm for the assessment years 2008-09 and 2009-10 concerning the disallowance of interest on an interest-free advance to its sister concern. The Tribunal directed the Assessing Officer to reevaluate the issue, considering evidence from the assessee to determine the legitimacy of the advance and specific borrowings for items like car loans. The decision for the assessment year 2008-09 was applied to the appeal for 2009-10, resulting in the appeals being allowed for statistical purposes. en-us Thu, 03 Mar 2016 00:00:00 +0530 Fri, 15 Apr 2016 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326620 The Tribunal allowed the appeals by the assessee firm for the assessment years 2008-09 and 2009-10 concerning the disallowance of interest on an interest-free advance to its sister concern. The Tribunal directed the Assessing Officer to reevaluate the issue, considering evidence from the assessee to determine the legitimacy of the advance and specific borrowings for items like car loans. The decision for the assessment year 2008-09 was applied to the appeal for 2009-10, resulting in the appeals being allowed for statistical purposes. Case-Laws Income Tax Thu, 03 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326620