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Interest Expense Allowed Despite Cash Balances in Angadia Business; Business Nexus of Borrowed Funds Upheld.

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....Allowability of interest expenditure – Business nexus of the amount borrowing – merely because the assessee had maintained cash balances at its several branches being in angadia business should not be a cause of disallowance of interest on borrowed funds - AT....

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Interest Expense Allowed Despite Cash Balances in Angadia Business; Business Nexus of Borrowed Funds Upheld.