https://www.taxtmi.com/caselaws?id=356444 The Tribunal ruled in favor of the appellant, directing the deletion of additions made by the AO regarding interest expenses. The decision emphasized the need to establish a direct nexus between borrowed funds and interest-free advances. The Tribunal considered the surplus in the Capital Account while assessing notional interest and found in favor of the appellant regarding the failure to follow a specific High Court judgment. en-us Wed, 28 Feb 2018 00:00:00 +0530 Tue, 06 Mar 2018 06:34:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356444 The Tribunal ruled in favor of the appellant, directing the deletion of additions made by the AO regarding interest expenses. The decision emphasized the need to establish a direct nexus between borrowed funds and interest-free advances. The Tribunal considered the surplus in the Capital Account while assessing notional interest and found in favor of the appellant regarding the failure to follow a specific High Court judgment. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356444