https://www.taxtmi.com/caselaws?id=292449 The Tribunal allowed the appeal for A.Y. 2003-04 and partly allowed the appeal for A.Y. 2005-06, emphasizing the importance of establishing a clear nexus between interest payments and the source of funds. The disallowance of interest paid by the assessee in both assessment years was overturned due to insufficient evidence supporting the lack of nexus between advances received and interest-free loans given. en-us Wed, 05 Sep 2012 00:00:00 +0530 Thu, 24 Dec 2020 17:57:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292449 The Tribunal allowed the appeal for A.Y. 2003-04 and partly allowed the appeal for A.Y. 2005-06, emphasizing the importance of establishing a clear nexus between interest payments and the source of funds. The disallowance of interest paid by the assessee in both assessment years was overturned due to insufficient evidence supporting the lack of nexus between advances received and interest-free loans given. Case-Laws Income Tax Wed, 05 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292449