https://www.taxtmi.com/caselaws?id=330779 The court upheld the decision to delete the addition made on account of Transfer Pricing upward adjustment, as it was found that no guarantee service was provided due to RBI's refusal of approval for the share pledge. Additionally, the disallowance against the amount made by the Assessing Officer for interest earned on tax-free income was dismissed, with the Tribunal determining that the assessee had sufficient interest-free funds for tax-free investments and no diversion of funds occurred. The judgment favored the assessee, dismissing the Tax appeal based on the findings of the CIT (Appeals) and the Tribunal. en-us Wed, 03 Aug 2016 00:00:00 +0530 Wed, 30 Aug 2017 15:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330779 The court upheld the decision to delete the addition made on account of Transfer Pricing upward adjustment, as it was found that no guarantee service was provided due to RBI's refusal of approval for the share pledge. Additionally, the disallowance against the amount made by the Assessing Officer for interest earned on tax-free income was dismissed, with the Tribunal determining that the assessee had sufficient interest-free funds for tax-free investments and no diversion of funds occurred. The judgment favored the assessee, dismissing the Tax appeal based on the findings of the CIT (Appeals) and the Tribunal. Case-Laws Income Tax Wed, 03 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330779