Court Removes 14% Loan Disallowance Due to Lack of Evidence on Misuse; Borrower's Turnover Up by 17.

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....Disallowance on account of non- utilisation of loan - @ 14% of loan amount - there is nothing on the record that the assessee has diverted interest bearing borrowed funds by granting interest free loans to sister concern and even The turnover of the assessee was increase @ 17% - it cannot be concluded that the assessee used the working capital for other than business purpose - disallowance deleted....