https://www.taxtmi.com/caselaws?id=418281 The Court upheld the Tribunal's decision, ruling in favor of the assessee regarding purchases made from a related party under Section 13 of the Income Tax Act, 1961. It was determined that the transactions were at arm's length, and there was no diversion of income to related parties. The Court clarified the distinction between Sections 11 and 13 of the Act, emphasizing that mere related party transactions do not automatically trigger Section 13(2)(g). As the transactions were found to be conducted at normal terms, without undue benefit, the appeal was dismissed. en-us Tue, 08 Feb 2022 00:00:00 +0530 Mon, 16 Jan 2023 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418281 The Court upheld the Tribunal's decision, ruling in favor of the assessee regarding purchases made from a related party under Section 13 of the Income Tax Act, 1961. It was determined that the transactions were at arm's length, and there was no diversion of income to related parties. The Court clarified the distinction between Sections 11 and 13 of the Act, emphasizing that mere related party transactions do not automatically trigger Section 13(2)(g). As the transactions were found to be conducted at normal terms, without undue benefit, the appeal was dismissed. Case-Laws Income Tax Tue, 08 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418281