https://www.taxtmi.com/caselaws?id=285855 The Bombay High Court dismissed the Appeals regarding the disallowance of interest on advances to sister companies. The Tribunal found no grounds for disallowance considering the source of funds and commercial benefits. The Court emphasized commercial expediency in advancing loans and cited precedent to support its decision. Loans were deemed permissible as they were not used to give loans to sister companies and were for commercial purposes, leading to the dismissal of the Appeals. en-us Fri, 13 Feb 2009 00:00:00 +0530 Thu, 30 Jan 2020 15:35:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285855 The Bombay High Court dismissed the Appeals regarding the disallowance of interest on advances to sister companies. The Tribunal found no grounds for disallowance considering the source of funds and commercial benefits. The Court emphasized commercial expediency in advancing loans and cited precedent to support its decision. Loans were deemed permissible as they were not used to give loans to sister companies and were for commercial purposes, leading to the dismissal of the Appeals. Case-Laws Income Tax Fri, 13 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285855