https://www.taxtmi.com/caselaws?id=286710 The Appeal challenged the Income Tax Appellate Tribunal's decision to grant exemption of interest under Section 10(23G) of the Income Tax Act to the Assessee Company for Assessment Year 2004-05. The Assessing Officer contested the exemption, arguing that the loans were not considered investments and the companies did not solicit open offers for long-term investment. However, both the CIT(A) and the Tribunal found the Assessee met the conditions for exemption under Section 10(23G) and dismissed the Appeal due to the lack of any substantial legal question, with no costs awarded. en-us Wed, 25 Apr 2012 00:00:00 +0530 Thu, 12 Mar 2020 10:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286710 The Appeal challenged the Income Tax Appellate Tribunal's decision to grant exemption of interest under Section 10(23G) of the Income Tax Act to the Assessee Company for Assessment Year 2004-05. The Assessing Officer contested the exemption, arguing that the loans were not considered investments and the companies did not solicit open offers for long-term investment. However, both the CIT(A) and the Tribunal found the Assessee met the conditions for exemption under Section 10(23G) and dismissed the Appeal due to the lack of any substantial legal question, with no costs awarded. Case-Laws Income Tax Wed, 25 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286710