https://www.taxtmi.com/caselaws?id=464096 ITAT upheld the CIT(A)'s deletion of proportionate interest disallowance for interest-free loans, dismissing the Revenue's appeal. The tribunal applied the SC precedent that where own/interest-free funds were available to the taxpayer for an investment, it is presumed those funds were used, negating the basis for proportionate interest disallowance. Accordingly, the addition was found unsustainable and the assessment revision was set aside. en-us Fri, 09 Jun 2023 00:00:00 +0530 Sat, 04 Oct 2025 18:15:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464096 ITAT upheld the CIT(A)'s deletion of proportionate interest disallowance for interest-free loans, dismissing the Revenue's appeal. The tribunal applied the SC precedent that where own/interest-free funds were available to the taxpayer for an investment, it is presumed those funds were used, negating the basis for proportionate interest disallowance. Accordingly, the addition was found unsustainable and the assessment revision was set aside. Case-Laws Income Tax Fri, 09 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464096