Case Law Details
Case Name : DCIT Vs Parinee Housing Private Limited (ITAT Mumbai)
Related Assessment Year : 2018-19
Courts :
All ITAT ITAT Mumbai
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DCIT Vs Parinee Housing Private Limited (ITAT Mumbai)
ITAT Mumbai held that addition of notional interest on advances to related parties (i.e. the directors and sister concern/related parties) unsustainable as the assessee has been able to substantiate availability of sufficient interest free funds.
Facts- The solitary issue raised by the Revenue in appeal is against the findings of CIT(A) in deleting the addition of interest on the loans advanced to the directors and sist
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