https://www.taxtmi.com/highlights?id=104768 Interest-free own funds substantially exceeding an advance to a fellow subsidiary, where the advance predated interest-bearing debentures, negate any presumption that borrowed funds financed the advance; the related interest disallowance was deleted. Share-premium credits require an independent investor-wise examination of financial statements, bank records, available funds and transaction evidence to establish the statutory conditions for unexplained credits. Alternative Investment Fund status does not remove that verification requirement. A pre-amendment approach was inapplicable for AY 2023-24, and the share-premium issue was remitted for fresh adjudication after allowing an effective hearing. en-us Sat, 10 Oct 2026 08:32:32 +0530 Sat, 10 Oct 2026 08:32:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104768 Interest-free own funds substantially exceeding an advance to a fellow subsidiary, where the advance predated interest-bearing debentures, negate any presumption that borrowed funds financed the advance; the related interest disallowance was deleted. Share-premium credits require an independent investor-wise examination of financial statements, bank records, available funds and transaction evidence to establish the statutory conditions for unexplained credits. Alternative Investment Fund status does not remove that verification requirement. A pre-amendment approach was inapplicable for AY 2023-24, and the share-premium issue was remitted for fresh adjudication after allowing an effective hearing. Highlights Income Tax Sat, 10 Oct 2026 08:32:32 +0530 https://www.taxtmi.com/highlights?id=104768