https://www.taxtmi.com/caselaws?id=191183 The Appellate Tribunal ITAT MUMBAI upheld the CIT(A) decision allowing interest on borrowed funds used for interest-free loans to sister concerns for Assessment Year 2005-06. The Tribunal cited a previous ruling in favor of the assessee for the preceding year, emphasizing commercial expediency. The Tribunal found no grounds to overturn the CIT(A)'s decision, ruling in favor of the assessee and dismissing the revenue's appeal. en-us Wed, 11 Jan 2012 00:00:00 +0530 Thu, 23 Mar 2017 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191183 The Appellate Tribunal ITAT MUMBAI upheld the CIT(A) decision allowing interest on borrowed funds used for interest-free loans to sister concerns for Assessment Year 2005-06. The Tribunal cited a previous ruling in favor of the assessee for the preceding year, emphasizing commercial expediency. The Tribunal found no grounds to overturn the CIT(A)'s decision, ruling in favor of the assessee and dismissing the revenue's appeal. Case-Laws Income Tax Wed, 11 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191183