https://www.taxtmi.com/caselaws?id=185295 The High Court ruled in favor of the assessee, holding that inter-corporate deposits do not fall under the definition of loan or advance as per the relevant sections. The Court found that including deposits as advances for interest tax purposes would have unintended consequences. As a result, the Court dismissed all appeals, with no order as to costs. en-us Mon, 27 Jun 2016 00:00:00 +0530 Thu, 17 Nov 2016 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185295 The High Court ruled in favor of the assessee, holding that inter-corporate deposits do not fall under the definition of loan or advance as per the relevant sections. The Court found that including deposits as advances for interest tax purposes would have unintended consequences. As a result, the Court dismissed all appeals, with no order as to costs. Case-Laws Income Tax Mon, 27 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185295