Interest on Borrowings Disallowed Due to Lack of Commercial Expediency in Diverting Funds to Sister Concerns.

Disallowance of interest on borrowings - assessee has not been able to prove that there is commercial expediency in diverting interest free funds to the sisterconcerns when assessee was paying huge interest on its borrowings - Therefore, the interest expenditure to the extent of funds diverted to sister concerns has been rightly disallowed by the A.O. .....

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