Taxpayer Challenges Disallowance of Interest on Capital Advances with Government Authorities, Not Sister Concerns, Citing Financial Statements.

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....Disallowance of proportionate interest on capital advances provided by the assessee - contentions of the Ld. AR are that, the advances does not pertains to sister concerns but the balance with government authorities - the advances disclosed in the financial statements are with the statutory authorities and the action of the A.O. to disallow proportionate interest considering such advances is not acceptable. - AT....