Allowability of Interest when Assessee has also advanced interest free loan to sister concern

Where the amount is given to the sister concern by the assessee interest-free out of own funds and for business purposes, no dis allowance can be made for interest expenses u/s 40A(2)(a)

ITO, Mumbai Vs GSB Capital Markets Ltd (ITAT Mumbai)–  Whether where the assessee has considered the amount receivable from debtor as bad debts in the books of account, no dis allowance can be made for want of fulfillment of conditions of section 36(2) – Whether where the amount is given to the sister

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