Disallowance u/s 36(1)(iii) of interest expenses not justified on failure to prove direct nexus

ACIT Vs Shri Rohit Kochar (ITAT Delhi)

Disallowance under Section 36(1)(iii) of interest expenses not justified on failure to prove direct nexus between interest bearing funds and interest-free advances

Conclusion:

Disallowance under section 36(1)(iii) was not justified as Revenue had failed to es

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