https://www.taxtmi.com/caselaws?id=790552 Interest on borrowed funds diverted to sister concerns without demonstrated commercial expediency was held disallowable, while the claim relating to interest attributable to assets not yet put to use was remanded for fresh factual verification. Section 40(a)(ia) was applied to uphold disallowance of interest paid to NBFCs without tax deduction at source, including amounts actually paid during the year. Conversion charges and related interest for change of land use were not treated as depreciation-eligible expenditure or allowable revenue deduction, and the additional ground on that claim was rejected for requiring fresh factual inquiry. Major disallowances were sustained, subject only to limited remand. en-us Tue, 21 Apr 2026 00:00:00 +0530 Mon, 27 Apr 2026 08:21:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790552 Interest on borrowed funds diverted to sister concerns without demonstrated commercial expediency was held disallowable, while the claim relating to interest attributable to assets not yet put to use was remanded for fresh factual verification. Section 40(a)(ia) was applied to uphold disallowance of interest paid to NBFCs without tax deduction at source, including amounts actually paid during the year. Conversion charges and related interest for change of land use were not treated as depreciation-eligible expenditure or allowable revenue deduction, and the additional ground on that claim was rejected for requiring fresh factual inquiry. Major disallowances were sustained, subject only to limited remand. Case-Laws Income Tax Tue, 21 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790552