https://www.taxtmi.com/caselaws?id=327068 The Tribunal partly allowed the appeals filed by the Assessing Officers, emphasizing the need for further verification of the nature of the loans to determine the applicability of section 41(1) of the Income Tax Act. The Tribunal directed the Assessing Officer to decide the issue afresh after considering the loan sanctioning and waiver documents. The cross objections by the assessee were treated as infructuous. en-us Mon, 28 Mar 2016 00:00:00 +0530 Sun, 01 May 2016 20:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327068 The Tribunal partly allowed the appeals filed by the Assessing Officers, emphasizing the need for further verification of the nature of the loans to determine the applicability of section 41(1) of the Income Tax Act. The Tribunal directed the Assessing Officer to decide the issue afresh after considering the loan sanctioning and waiver documents. The cross objections by the assessee were treated as infructuous. Case-Laws Income Tax Mon, 28 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327068