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Case Law Details

Case Name : Oriental Enterprise Pvt Ltd Vs ACIT (ITAT Ahmedabad)
Appeal Number : ITA No(s)
Date of Judgement/Order : 661/Ahd/2023
Related Assessment Year : 27/08/2024
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Oriental Enterprise Pvt Ltd Vs ACIT (ITAT Ahmedabad)

ITAT Ahmedabad held that disallowance u/s. 36(1)(iii) of the Income Tax Act unjustified as interest-free funds exceeds loan to the subsidiary and loan was advanced for commercial expediency.

Facts- The assessee-company was engaged in the business of manufacturi

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