https://www.taxtmi.com/caselaws?id=470688 Where surplus interest-free funds exceed interest-free advances, those advances are presumed to have been made from the available non-interest-bearing funds. The notes state that most advances existed at the preceding year-end, the fresh advance was made from surplus funds during the relevant year, and no disallowance had been made in the immediately preceding year. On that basis, the disallowance of notional interest was treated as unsustainable and its deletion was upheld in favour of the assessee. en-us Wed, 26 Mar 2025 00:00:00 +0530 Tue, 04 Aug 2026 20:51:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470688 Where surplus interest-free funds exceed interest-free advances, those advances are presumed to have been made from the available non-interest-bearing funds. The notes state that most advances existed at the preceding year-end, the fresh advance was made from surplus funds during the relevant year, and no disallowance had been made in the immediately preceding year. On that basis, the disallowance of notional interest was treated as unsustainable and its deletion was upheld in favour of the assessee. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470688