https://www.taxtmi.com/caselaws?id=103458 Interest expenditure cannot be disallowed merely because interest-free advances were made to a sister concern where no nexus is established between borrowed funds and the advance. Sufficient interest-free funds exceeding the amount advanced support the conclusion that no proportionate disallowance of interest is justified. The Revenue's challenge to deletion of the interest disallowance failed; the tax effect was also below the applicable CBDT monetary limit. en-us Wed, 22 Aug 2001 00:00:00 +0530 Wed, 22 Feb 2012 18:39:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103458 Interest expenditure cannot be disallowed merely because interest-free advances were made to a sister concern where no nexus is established between borrowed funds and the advance. Sufficient interest-free funds exceeding the amount advanced support the conclusion that no proportionate disallowance of interest is justified. The Revenue's challenge to deletion of the interest disallowance failed; the tax effect was also below the applicable CBDT monetary limit. Case-Laws Income Tax Wed, 22 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103458