https://www.taxtmi.com/caselaws?id=278254 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to dismiss the appeal, confirming that disallowance of interest claimed under Section 36(1)(iii) of the Income Tax Act was not justified as the loans/advances were for business purposes. Additionally, the Tribunal upheld the deletion of the addition of deemed dividend under Section 2(22)(e) as it was deemed to be a commercial trade transaction and not a loan or advance for the individual benefit of the assessee. en-us Tue, 29 Nov 2016 00:00:00 +0530 Mon, 21 Jan 2019 06:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278254 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to dismiss the appeal, confirming that disallowance of interest claimed under Section 36(1)(iii) of the Income Tax Act was not justified as the loans/advances were for business purposes. Additionally, the Tribunal upheld the deletion of the addition of deemed dividend under Section 2(22)(e) as it was deemed to be a commercial trade transaction and not a loan or advance for the individual benefit of the assessee. Case-Laws Income Tax Tue, 29 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278254