https://www.taxtmi.com/highlights?id=54506 Disallowance of interest on loan since interest free advances given to the parties - Once it is held that the amount was outstanding out of sales made, the business purpose is automatically established and there can be no question of disallowance in respect of outstanding amount for business purpose. - AT en-us Thu, 27 Aug 2020 11:59:08 +0530 Thu, 27 Aug 2020 11:59:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=54506 Disallowance of interest on loan since interest free advances given to the parties - Once it is held that the amount was outstanding out of sales made, the business purpose is automatically established and there can be no question of disallowance in respect of outstanding amount for business purpose. - AT Highlights Income Tax Thu, 27 Aug 2020 11:59:08 +0530 https://www.taxtmi.com/highlights?id=54506