https://www.taxtmi.com/caselaws?id=307850 The Tribunal allowed the appeal, emphasizing the importance of demonstrating the source of funds for investments and the inapplicability of disallowance when owned funds exceed interest-free advances. The decision highlighted the need for clear justification and evidence in cases involving interest on loans from related parties to avoid unwarranted additions. The Tribunal set aside the CIT(A)'s order and directed the Assessing Officer to delete the addition of Rs.5,39,940 due to non-charging of interest on loans from related parties. en-us Wed, 29 Aug 2018 00:00:00 +0530 Thu, 11 May 2023 21:19:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307850 The Tribunal allowed the appeal, emphasizing the importance of demonstrating the source of funds for investments and the inapplicability of disallowance when owned funds exceed interest-free advances. The decision highlighted the need for clear justification and evidence in cases involving interest on loans from related parties to avoid unwarranted additions. The Tribunal set aside the CIT(A)'s order and directed the Assessing Officer to delete the addition of Rs.5,39,940 due to non-charging of interest on loans from related parties. Case-Laws Income Tax Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307850