Tribunal Overturns Disallowance of Interest on Loans to Directors, Citing Lack of Consideration u/s 36(1)(ii.

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....Disallowance u/s.36(1)(ii) of interest expenditure on loans availed - assessee has made advance loans to directors and sister concerns - without any application of mind, the authorities below are passing orders year after year for reason best known to them when assessee has given the necessary details and no disallowance was done in earlier years as noted by the Tribunal - additions deleted - AT....