CIT vs Bharti Televenture Ltd.
Interest on borrowed capital- Commercial expediency-Interest free advances to sister concern-AY 2001-2002, 2003-2004 and 2004-2005. There was no nexus between the borrowing made on interest and interest free advances made to subsidiaries. Thos [LexDoc Id : 402322]
HC (Delhi)
2011
Sheetal Khurana Foods (P) Ltd. vs ITAT and Ors.
Buisness income v. Income from property-Property let out for 9 years-A.Y.2003-2004. The assessee company was formed to manufacture food article. It sub-let the property taken on lease. The rent was income from property< [LexDoc Id : 401352]
