https://www.taxtmi.com/caselaws?id=470688 Notional interest cannot be disallowed on interest-free advances where surplus interest-free funds exceeding those advances are available. Existing advances substantially carried over from the preceding year, no disallowance had been made in that year, and the fresh advance in the relevant year was made from available surplus funds. Applying the presumption that interest-free advances are funded from sufficient interest-free funds, the deletion of the notional-interest disallowance was upheld. 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 Notional interest cannot be disallowed on interest-free advances where surplus interest-free funds exceeding those advances are available. Existing advances substantially carried over from the preceding year, no disallowance had been made in that year, and the fresh advance in the relevant year was made from available surplus funds. Applying the presumption that interest-free advances are funded from sufficient interest-free funds, the deletion of the notional-interest disallowance was upheld. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470688