https://www.taxtmi.com/caselaws?id=794610 Interest-free advances to a wholly owned subsidiary were accepted as commercially expedient where ledger, bank and project records showed business deployment and no interest had accrued, so the notional interest addition was deleted. A blanket 20% disallowance of power and fuel, administrative, and repairs and maintenance was rejected because the assessee produced invoices, confirmations, bank payments and reconciliations, with no specific bogus item identified. Trade payables were also held not to be unexplained cash credits under section 68 because party-wise ledgers, PAN details, confirmations and bank entries established identity and commercial origin; the Revenue challenge therefore failed in full. en-us Mon, 29 Jun 2026 00:00:00 +0530 Wed, 08 Jul 2026 09:08:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794610 Interest-free advances to a wholly owned subsidiary were accepted as commercially expedient where ledger, bank and project records showed business deployment and no interest had accrued, so the notional interest addition was deleted. A blanket 20% disallowance of power and fuel, administrative, and repairs and maintenance was rejected because the assessee produced invoices, confirmations, bank payments and reconciliations, with no specific bogus item identified. Trade payables were also held not to be unexplained cash credits under section 68 because party-wise ledgers, PAN details, confirmations and bank entries established identity and commercial origin; the Revenue challenge therefore failed in full. Case-Laws Income Tax Mon, 29 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794610