https://www.taxtmi.com/highlights?id=31818 Interest expense - The borrowed amount in question was not utilized by the assessee in its own business, but had been advanced as interest-free loan to its sister-concern and later converted into share capital. - What is relevant is whether the assessee advanced such amount to its sister-concern as a measure of commercial expediency. - AT en-us Mon, 24 Oct 2016 10:17:57 +0530 Mon, 24 Oct 2016 10:17:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=31818 Interest expense - The borrowed amount in question was not utilized by the assessee in its own business, but had been advanced as interest-free loan to its sister-concern and later converted into share capital. - What is relevant is whether the assessee advanced such amount to its sister-concern as a measure of commercial expediency. - AT Highlights Income Tax Mon, 24 Oct 2016 10:17:57 +0530 https://www.taxtmi.com/highlights?id=31818