https://www.taxtmi.com/caselaws?id=470488 Interest disallowance depends on proving business purpose or commercial expediency for interest-free loans and partnership-capital advances, while advances supported as business-related may qualify for relief. Work-in-progress transferred at book value does not permit imputed profit, although attributable finance costs require capitalisation; shared sponsorship costs may be apportioned. Further expenditure disallowance against exempt income is restricted by exempt income and requires recorded dissatisfaction with the taxpayer's accounts. Bad-debt write-off may be allowed when recorded in the books, but unsupported debts may be disallowed. Notional interest requires actual accrual rather than presumptions. Consultancy and cash-imprest claims require verification of their character and accounting treatment. Deemed dividend requires the recipient to hold the requisite beneficial shareholding in the payer company. en-us Tue, 23 Dec 2025 00:00:00 +0530 Tue, 28 Jul 2026 19:00:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470488 Interest disallowance depends on proving business purpose or commercial expediency for interest-free loans and partnership-capital advances, while advances supported as business-related may qualify for relief. Work-in-progress transferred at book value does not permit imputed profit, although attributable finance costs require capitalisation; shared sponsorship costs may be apportioned. Further expenditure disallowance against exempt income is restricted by exempt income and requires recorded dissatisfaction with the taxpayer's accounts. Bad-debt write-off may be allowed when recorded in the books, but unsupported debts may be disallowed. Notional interest requires actual accrual rather than presumptions. Consultancy and cash-imprest claims require verification of their character and accounting treatment. Deemed dividend requires the recipient to hold the requisite beneficial shareholding in the payer company. Case-Laws Income Tax Tue, 23 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470488