Tribunal held that the borrowed funds were diverted for investment for equity infusion of associated concerns, hence disallowance of interest is held to be justified. (AY. 2013-14)
Abhinav International P. Ltd. v. Dy.CIT (2020) 82 ITR 258 (Delhi)(Trib.)
S. 36(1)(iii) : Interest on borrowed capital-Funds diverted for equity infusion of associated concerns-Disallowance of interest is held to be justified.