https://www.taxtmi.com/caselaws?id=61286 Interest disallowance could not be sustained where the revenue failed to establish a nexus between the assessee's interest-bearing borrowings and the interest-free advance to a related concern. The burden to prove that the borrowed funds were used for the impugned advance rested on the revenue, and that burden was not discharged. In the absence of such correlation, the addition was deleted. en-us Sat, 16 Apr 1983 00:00:00 +0530 Wed, 12 Jan 2011 10:53:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61286 Interest disallowance could not be sustained where the revenue failed to establish a nexus between the assessee's interest-bearing borrowings and the interest-free advance to a related concern. The burden to prove that the borrowed funds were used for the impugned advance rested on the revenue, and that burden was not discharged. In the absence of such correlation, the addition was deleted. Case-Laws Income Tax Sat, 16 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61286