https://www.taxtmi.com/caselaws?id=35211 The Court upheld the decision of the Income-tax Appellate Tribunal to disallow the interest payment made by the assessee to the bank due to the diversion of borrowed funds to sister concerns. Both the Assessing Officer and the Tribunal found that the funds were redirected to individuals within the group, beyond commercial expediency. The Court determined that the Tribunal's findings were factual and declined to admit the appeals, affirming the dismissal based on the diversion of funds and lack of legal questions. en-us Mon, 18 Jan 2010 00:00:00 +0530 Thu, 31 Jan 2013 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35211 The Court upheld the decision of the Income-tax Appellate Tribunal to disallow the interest payment made by the assessee to the bank due to the diversion of borrowed funds to sister concerns. Both the Assessing Officer and the Tribunal found that the funds were redirected to individuals within the group, beyond commercial expediency. The Court determined that the Tribunal's findings were factual and declined to admit the appeals, affirming the dismissal based on the diversion of funds and lack of legal questions. Case-Laws Income Tax Mon, 18 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35211