High Court Allows Interest Deduction for Assessee's Interest-Free Loan to Sister Concern, Citing Potential Financial Benefits.

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....Disallowance of interest paid to the bank - the appellant/assesse had advanced an interest free loan to its sister concern - there would be a direct benefit on account of the advance made by the appellant to its sister company if the same improves the financial health of the sister company and makes it a viable enterprise. - deduction on interest allowed - HC....