https://www.taxtmi.com/highlights?id=47112 Disallowance of interest - diversion of funds for a non-business purpose - owned fund of the assessee as on 31st March 2013 and 31st March 2014 is more than the amount of advances given at a lower rate of interest which is not in dispute - a presumption can be drawn that the assessee has advanced the money to the relatives of the partners out of its fund - no disallowance en-us Wed, 12 Jun 2019 06:49:21 +0530 Wed, 12 Jun 2019 06:49:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=47112 Disallowance of interest - diversion of funds for a non-business purpose - owned fund of the assessee as on 31st March 2013 and 31st March 2014 is more than the amount of advances given at a lower rate of interest which is not in dispute - a presumption can be drawn that the assessee has advanced the money to the relatives of the partners out of its fund - no disallowance Highlights Income Tax Wed, 12 Jun 2019 06:49:21 +0530 https://www.taxtmi.com/highlights?id=47112