https://www.taxtmi.com/caselaws?id=469286 Interest disallowance under section 36(1)(iii) was sustained where the assessee did not establish that interest-free advances were wholly supported by interest-free funds; the Tribunal upheld the restricted disallowance after a reasoned appraisal of the record. Addition under section 40(a)(ia) was also sustained because tax deductible on interest payments had not been deducted or paid, and there was no cogent evidence that the payees had discharged the liability. The distinction between amounts paid and payable did not assist the assessee, as the disallowance applied in either case. The appellate order therefore remained undisturbed and the appeal failed. en-us Tue, 04 Mar 2025 00:00:00 +0530 Fri, 12 Jun 2026 12:20:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469286 Interest disallowance under section 36(1)(iii) was sustained where the assessee did not establish that interest-free advances were wholly supported by interest-free funds; the Tribunal upheld the restricted disallowance after a reasoned appraisal of the record. Addition under section 40(a)(ia) was also sustained because tax deductible on interest payments had not been deducted or paid, and there was no cogent evidence that the payees had discharged the liability. The distinction between amounts paid and payable did not assist the assessee, as the disallowance applied in either case. The appellate order therefore remained undisturbed and the appeal failed. Case-Laws Income Tax Tue, 04 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469286