https://www.taxtmi.com/highlights?id=73919 Disallowance of interest expenses - sufficiency of own interest free funds - A.O. only considered that amount invested is to be disallowed. CIT(A) held that the funds given to JPL were as per the requirement of lending banks to infuse funds by promoters in the JPL which is business expediency to give the funds to JPL without interest. - CIT(A) rightly deleted the addition - AT en-us Wed, 03 Jan 2024 08:15:14 +0530 Wed, 03 Jan 2024 08:15:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=73919 Disallowance of interest expenses - sufficiency of own interest free funds - A.O. only considered that amount invested is to be disallowed. CIT(A) held that the funds given to JPL were as per the requirement of lending banks to infuse funds by promoters in the JPL which is business expediency to give the funds to JPL without interest. - CIT(A) rightly deleted the addition - AT Highlights Income Tax Wed, 03 Jan 2024 08:15:14 +0530 https://www.taxtmi.com/highlights?id=73919