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2008 (7) TMI 615 - ITAT DELHI
Extract:
.......between the loan taken and friendly interest-free advances given by the assessee, remained un-controverted the CIT(A) was fully justified in deleting the impugned disallowance. The order of CIT(A) in this regard is upheld and Ground No. 4 of the appeal of the revenue is rejected. 27. In the result, the appeal filed by the revenue is partly allowed.