https://www.taxtmi.com/caselaws?id=281682 The High Court criticized the Tribunal's order for lacking proper fact-finding and application of mind in two separate cases. It addressed issues including disallowance of interest accrued to the Bank, interest disallowed on diversion of borrowed funds to sister concerns, permissibility of Foreign Exchange loss deduction, and capital gains on the transfer of undertaking. The Court set aside the Tribunal's order, directing it to dispose of the appeals within six months and rejected a Cross Objection filed by the Revenue. Parties were instructed to appear before the Tribunal on a specified date, and the appeals were disposed of without costs. en-us Thu, 02 Aug 2018 00:00:00 +0530 Mon, 01 Jul 2019 07:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281682 The High Court criticized the Tribunal's order for lacking proper fact-finding and application of mind in two separate cases. It addressed issues including disallowance of interest accrued to the Bank, interest disallowed on diversion of borrowed funds to sister concerns, permissibility of Foreign Exchange loss deduction, and capital gains on the transfer of undertaking. The Court set aside the Tribunal's order, directing it to dispose of the appeals within six months and rejected a Cross Objection filed by the Revenue. Parties were instructed to appear before the Tribunal on a specified date, and the appeals were disposed of without costs. Case-Laws Income Tax Thu, 02 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281682