Interest : Where Assessing Officer disallowed interest paid by assessee to banks and others on ground that assessee diverted interest bearing funds for giving interest free advances, since assessee had huge interest free sundry creditors balance with him , impugned interest expenditure was to be allowed – CCIT (OSD)/Principal Commissioner of Income-tax, Central-2 v. Bhupendra Champaklal Dalal – [2024] 160 taxmann.com 645 (Bombay)
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