Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (4) TMI 243 - AT - Income TaxAddition of unsecured interest free loans and advances against projects/properties - Held that:- As decided in assess's own case the assessee company had received much more interest free trade advances/unsecured loans as comparison to interest free trade advances given. Assessee company has not given any interest free trade advances to any parties out of borrowed funds. Thus there is no nexus between borrowed funds and trade advances given to parties. Therefore, there is no question of disallowance of interest/addition on account of notional interest income on trade advances. - Decided in favour of assessee
|