https://www.taxtmi.com/caselaws?id=358066 The Tribunal upheld the disallowance of interest expenses and addition of notional interest income for assessment years 2009-10 and 2010-11. The assessee's failure to establish business expediency for lending at lower or no interest led to the dismissal of appeals. The Tribunal found that loans were given from borrowed funds without sufficient justification, in contrast to the business nature. The decisions of lower authorities were affirmed, and the appeals were deemed meritless. en-us Thu, 01 Feb 2018 00:00:00 +0530 Wed, 04 Apr 2018 08:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358066 The Tribunal upheld the disallowance of interest expenses and addition of notional interest income for assessment years 2009-10 and 2010-11. The assessee's failure to establish business expediency for lending at lower or no interest led to the dismissal of appeals. The Tribunal found that loans were given from borrowed funds without sufficient justification, in contrast to the business nature. The decisions of lower authorities were affirmed, and the appeals were deemed meritless. Case-Laws Income Tax Thu, 01 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358066