https://www.taxtmi.com/caselaws?id=774681 The ITAT Mumbai held that disallowance under section 36(1)(iii) for interest on loans advanced to subsidiary companies was improper. The tribunal found that no interest-free loans were advanced during the assessment year in question, as all such loans were granted in preceding years. Following its own precedent from the assessee's case in previous years, the tribunal deleted the disallowance and allowed the assessee's grounds of appeal. en-us Thu, 03 Jul 2025 00:00:00 +0530 Tue, 15 Jul 2025 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774681 The ITAT Mumbai held that disallowance under section 36(1)(iii) for interest on loans advanced to subsidiary companies was improper. The tribunal found that no interest-free loans were advanced during the assessment year in question, as all such loans were granted in preceding years. Following its own precedent from the assessee's case in previous years, the tribunal deleted the disallowance and allowed the assessee's grounds of appeal. Case-Laws Income Tax Thu, 03 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774681