https://www.taxtmi.com/highlights?id=61338 Disallowance of Interest on Borrowed Fund - Assessee company is one of the group companies of M/s SCSL and the assessee had advanced to the tune of ₹ 80.78 crores to M/s SCSL. We find that M/s SCSL was involved in a big financial scandal by way of inflating the figures in the balance sheet due to which M/s SCSL involved in various court cases, which are pending. - Genuineness of the amounts advanced to such group company by the assessee is doubtful. - Additions towards interest confirmed - AT en-us Sat, 08 Jan 2022 13:26:30 +0530 Sat, 08 Jan 2022 13:26:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=61338 Disallowance of Interest on Borrowed Fund - Assessee company is one of the group companies of M/s SCSL and the assessee had advanced to the tune of ₹ 80.78 crores to M/s SCSL. We find that M/s SCSL was involved in a big financial scandal by way of inflating the figures in the balance sheet due to which M/s SCSL involved in various court cases, which are pending. - Genuineness of the amounts advanced to such group company by the assessee is doubtful. - Additions towards interest confirmed - AT Highlights Income Tax Sat, 08 Jan 2022 13:26:30 +0530 https://www.taxtmi.com/highlights?id=61338