https://www.taxtmi.com/caselaws?id=462268 The Income Tax Tribunal examined whether share application money to a related company should be treated as a loan attracting interest. After analyzing the transaction's nature, the Tribunal found no basis to impose notional interest, as the share application was genuine, followed by share allotment. The Tribunal deleted the Rs. 36,55,900/- interest income addition, ruling that assumptions about commercial practices cannot reclassify legitimate share capital transactions. en-us Wed, 22 May 2019 00:00:00 +0530 Fri, 06 Jun 2025 19:24:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462268 The Income Tax Tribunal examined whether share application money to a related company should be treated as a loan attracting interest. After analyzing the transaction's nature, the Tribunal found no basis to impose notional interest, as the share application was genuine, followed by share allotment. The Tribunal deleted the Rs. 36,55,900/- interest income addition, ruling that assumptions about commercial practices cannot reclassify legitimate share capital transactions. Case-Laws Income Tax Wed, 22 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462268