https://www.taxtmi.com/highlights?id=66251 Disallowance of interest u/s 36(1)(iii) - Merely because the advances were given from assessee’s cash credit account, a simplistic presumption cannot be drawn that advances were from borrowed funds given that the cash credit account is likely to have credits/deposits from assessee’s business operations and/or other bank accounts. - AT en-us Sun, 30 Oct 2022 20:54:07 +0530 Sun, 30 Oct 2022 20:54:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=66251 Disallowance of interest u/s 36(1)(iii) - Merely because the advances were given from assessee’s cash credit account, a simplistic presumption cannot be drawn that advances were from borrowed funds given that the cash credit account is likely to have credits/deposits from assessee’s business operations and/or other bank accounts. - AT Highlights Income Tax Sun, 30 Oct 2022 20:54:07 +0530 https://www.taxtmi.com/highlights?id=66251