Interest Disallowance Upheld for Failure to Prove Interest-Free Funds for Advances to Related Parties Under Income Tax Law.

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....Disallowance of interest on account of sundry advances - assessee failed to explain before the Ld. CIT(A) that interest free funds were available with assessee for extending interest-free advances to the related parties. In absence of any such evidences submitted by the assessee, we do not find any error in the order of the Ld. CIT(A) - AT....