Interest Disallowance u/s 36(1)(iii) Involves Mixed Funds; Revenue Can't Interfere with Business Financial Decisions.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance of interest u/s 36(1)(iii) on proportionate basis - mixed funds i.e own funds as well as borrowed funds - commercial expediency - charging / non-charging of interest or charging of interest at a lesser rate would not fall in the domain of the revenue - revenue cannot step into the shoes of the businessman....