Interest Expenses Disallowed Due to Unjustified Financial Arrangements u/ss 36(1)(iii) and 40A of Income Tax Act.

Disallow the interest u/s. 36(1)(iii) read with section 40A - assessee had advanced money at lower rate of interest or free of interest out of the funds borrowed by the assessee at higher rate of interest - assessee failed to explain the business expediencies - additions confirmed - AT .....

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