https://www.taxtmi.com/highlights?id=26137 Deduction of interest paid on borrowed sums from Bank under the provisions of Section 36(1)(iii) disallowed - diversion of loan - loan given to Directors and Sister concern - the company had reserve/surplus to the tune of almost 15 crores - claim of deduction of interest allowed - SC en-us Fri, 27 Nov 2015 17:05:01 +0530 Fri, 27 Nov 2015 17:05:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=26137 Deduction of interest paid on borrowed sums from Bank under the provisions of Section 36(1)(iii) disallowed - diversion of loan - loan given to Directors and Sister concern - the company had reserve/surplus to the tune of almost 15 crores - claim of deduction of interest allowed - SC Highlights Income Tax Fri, 27 Nov 2015 17:05:01 +0530 https://www.taxtmi.com/highlights?id=26137