https://www.taxtmi.com/caselaws?id=430290 The Tribunal found that the revision order under section 263 for the assessment year 2014-15 was legally unsustainable. The Tribunal held that the loan processing fee did not qualify as interest under section 2(28A) and that the discrepancy in interest rates between the loan borrowed and the related party loan did not warrant disallowance. As a result, the Tribunal allowed the assessee's appeal and quashed the revision order, emphasizing the need for the revision order to align with the law. en-us Tue, 01 Nov 2022 00:00:00 +0530 Wed, 16 Nov 2022 08:58:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430290 The Tribunal found that the revision order under section 263 for the assessment year 2014-15 was legally unsustainable. The Tribunal held that the loan processing fee did not qualify as interest under section 2(28A) and that the discrepancy in interest rates between the loan borrowed and the related party loan did not warrant disallowance. As a result, the Tribunal allowed the assessee's appeal and quashed the revision order, emphasizing the need for the revision order to align with the law. Case-Laws Income Tax Tue, 01 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430290