https://www.taxtmi.com/caselaws?id=180109 The appeal was allowed by ITAT, Mumbai, in a case concerning the disallowance of interest expenses under section 36(1)(iii) on advances to a sister concern. The court ruled that no disallowance was warranted as the assessee had sufficient own funds to cover the interest-free loans given, referencing precedents. Consequently, the addition of Rs. 2,55,585 towards interest expenses was deleted. en-us Fri, 17 Sep 2010 00:00:00 +0530 Wed, 16 Mar 2016 17:56:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180109 The appeal was allowed by ITAT, Mumbai, in a case concerning the disallowance of interest expenses under section 36(1)(iii) on advances to a sister concern. The court ruled that no disallowance was warranted as the assessee had sufficient own funds to cover the interest-free loans given, referencing precedents. Consequently, the addition of Rs. 2,55,585 towards interest expenses was deleted. Case-Laws Income Tax Fri, 17 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180109