https://www.taxtmi.com/highlights?id=49987 Disallowance of interest - the assessee’ counsel, proceeded de hors what had transpired during the previous hearing, reiterating, without reference to any factual basis, that the assessee had sufficient interest-free capital to preclude the disallowance of interest on borrowed capital. The assessee’s case, thus, continues to be no more than a bald statement, i.e., as it was before the Revenue authorities - additions confirmed. en-us Fri, 01 Nov 2019 21:23:11 +0530 Fri, 01 Nov 2019 21:23:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=49987 Disallowance of interest - the assessee’ counsel, proceeded de hors what had transpired during the previous hearing, reiterating, without reference to any factual basis, that the assessee had sufficient interest-free capital to preclude the disallowance of interest on borrowed capital. The assessee’s case, thus, continues to be no more than a bald statement, i.e., as it was before the Revenue authorities - additions confirmed. Highlights Income Tax Fri, 01 Nov 2019 21:23:11 +0530 https://www.taxtmi.com/highlights?id=49987