When assessee has sufficient own funds, no disallowance for amount given on loan as interest free

Ahuja Platinum Properties Pvt. Ltd. Vs JCIT (ITAT Mumbai)- When the assessee has sufficient own funds, no dis-allowance can be made for the interest paid on borrowed funds, for the amount given on loan as interest free even though the assessee cannot show the nexus of interest free loans with the owned funds.  The availability of interest free funds as given in the earlier part of this order is not in dispute. The Assessing Officer has proceeded on the assumption that the assessee did not establish the nexus between the interest free funds available with the assessee and interest free loan...