https://www.taxtmi.com/caselaws?id=404791 The appeal was partly allowed in the case concerning the disallowance of interest on advances made to another company using borrowed funds. The Tribunal directed the Assessing Officer to delete the addition of interest concerning the term loan disbursement timeline but agreed to restrict the interest disallowance for the amount advanced on 09.03.2011. As a result, the disallowance of interest was adjusted accordingly, providing partial relief to the Assessee in the matter. en-us Tue, 02 Mar 2021 00:00:00 +0530 Thu, 04 Mar 2021 08:26:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404791 The appeal was partly allowed in the case concerning the disallowance of interest on advances made to another company using borrowed funds. The Tribunal directed the Assessing Officer to delete the addition of interest concerning the term loan disbursement timeline but agreed to restrict the interest disallowance for the amount advanced on 09.03.2011. As a result, the disallowance of interest was adjusted accordingly, providing partial relief to the Assessee in the matter. Case-Laws Income Tax Tue, 02 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404791