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2014 (2) TMI 566 - HC - Income TaxNon charging of interest on dues - accrual of income - Application of Section 145(1) of the Act – Sufficient evidences not brought – Chargeability of Interest - Held that:- The assessee failed to produce any evidence to establish that assessee was having interest free advance of its other sister concern of Rs.28 crores - Since no details were brought on record to establish it, the Appellate Tribunal remitted the matter to the AO with the direction to the Assessment Officer to consider on the basis of evidence as may be furnished by the assessee as to whether the assessee for the assessment year 1990-1991 and 1991-1992 was having interest free advances, more than interest free advances given by it, and no interest bearing fund was utilized to give interest free advances to its sister concern/partners/directors – there is no substantial questions of law – Decided against Revenue.
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