Assessee Fails to Prove Fund Use and Availability; Interest Disallowance by Assessing Officer Justified.

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....Allowability of financial charges including interest expenditure - The assessee failed to produce documentary evidences, the end use of funds invested in subsidiary, fellow subsidiary, ultimate holding company and to others. - Further, assessee failed to prove that assessee had sufficient own funds for giving loans and advances and invested in shares and further, could not produce the availability of own funds on the date investments in shares and giving loans and advances on the particular date of investments - Thus the disallowance of interest made by the AO is justified - AT....