Notional interest not chargeable on share application money paid to AEs

Strides Pharma Science Ltd. Vs DCIT (ITAT Mumbai) Facts- During the relevant A.Y., the assessee had invested as share application money in two Associated Enterprises (AEs). The share application money was remitted to its A.Es from time–to–time during the relevant A.Y. In addition to this, during the earlier years, the assessee had invested the share application money in three A.Es which was outstanding as on 31.03.2014. During the proceedings before the TPO, the assessee was asked to show cause as to why there should not be any interest imputation on the share application money. The AO pas...