https://www.taxtmi.com/caselaws?id=60949 The Tribunal concluded that the deletion of the addition of Rs. 1,15,165 without establishing a nexus between borrowings and interest-bearing advances was justified as the borrowings were proven to be used for business purposes. The allowance of Rs. 1,06,400 paid as secret commission was also upheld due to its recognition as a business necessity, despite lack of substantiation. The penalty of Rs. 55,862 was deleted as it was linked to the disallowed addition of secret commission, which was overturned in the quantum appeal. The Tribunal rejected the revenue's arguments, finding them to be based on factual findings rather than legal questions. en-us Tue, 23 Dec 1997 00:00:00 +0530 Mon, 10 Jan 2011 10:54:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60949 The Tribunal concluded that the deletion of the addition of Rs. 1,15,165 without establishing a nexus between borrowings and interest-bearing advances was justified as the borrowings were proven to be used for business purposes. The allowance of Rs. 1,06,400 paid as secret commission was also upheld due to its recognition as a business necessity, despite lack of substantiation. The penalty of Rs. 55,862 was deleted as it was linked to the disallowed addition of secret commission, which was overturned in the quantum appeal. The Tribunal rejected the revenue's arguments, finding them to be based on factual findings rather than legal questions. Case-Laws Income Tax Tue, 23 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60949