https://www.taxtmi.com/caselaws?id=398744 The tribunal allowed the appeals of the assessee, finding that the orders passed under Section 143(3) read with Section 153A were not justified due to the absence of incriminating material. Additionally, the tribunal held that the development agreements presented were valid evidence of the business purpose of the advances, and the disallowance of interest payments was deemed unwarranted. Consequently, the tribunal directed the AO to delete the disallowance of interest payments for the relevant assessment years. en-us Fri, 11 Sep 2020 00:00:00 +0530 Wed, 23 Sep 2020 10:39:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398744 The tribunal allowed the appeals of the assessee, finding that the orders passed under Section 143(3) read with Section 153A were not justified due to the absence of incriminating material. Additionally, the tribunal held that the development agreements presented were valid evidence of the business purpose of the advances, and the disallowance of interest payments was deemed unwarranted. Consequently, the tribunal directed the AO to delete the disallowance of interest payments for the relevant assessment years. Case-Laws Income Tax Fri, 11 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398744