https://www.taxtmi.com/caselaws?id=413501 The Tribunal upheld the addition of interest amounts to the appellant's taxable income, emphasizing the commercial nature of the transactions and the inapplicability of the mutuality principle. The appeal was dismissed based on the lack of error or infirmity in the CIT(A)'s findings. The judgment highlights the strict conditions necessary for the mutuality principle to exempt transactions from taxation, as outlined by the Supreme Court. en-us Thu, 30 Sep 2021 00:00:00 +0530 Wed, 13 Oct 2021 08:43:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413501 The Tribunal upheld the addition of interest amounts to the appellant's taxable income, emphasizing the commercial nature of the transactions and the inapplicability of the mutuality principle. The appeal was dismissed based on the lack of error or infirmity in the CIT(A)'s findings. The judgment highlights the strict conditions necessary for the mutuality principle to exempt transactions from taxation, as outlined by the Supreme Court. Case-Laws Income Tax Thu, 30 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413501