https://www.taxtmi.com/caselaws?id=394306 The Tribunal partly allowed the appeals, directing the AO to verify the actual amount of loans and advances to related parties and restrict the interest disallowance accordingly. The disallowance of interest under Section 36(1)(iii) was upheld due to the lack of evidence of commercial expediency and sufficient interest-free funds. The decision applied mutatis mutandis to both assessment years 2013-14 and 2014-15. en-us Wed, 22 Jan 2020 00:00:00 +0530 Wed, 08 Apr 2020 17:24:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394306 The Tribunal partly allowed the appeals, directing the AO to verify the actual amount of loans and advances to related parties and restrict the interest disallowance accordingly. The disallowance of interest under Section 36(1)(iii) was upheld due to the lack of evidence of commercial expediency and sufficient interest-free funds. The decision applied mutatis mutandis to both assessment years 2013-14 and 2014-15. Case-Laws Income Tax Wed, 22 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394306