Held that all business receipts and payments of assessee routed through bank overdraft account. Interest-free funds available with the assessee is far in excess of investment in Mutual Funds, purchase of plot, construction, building, and loan to charitable organisations. Disallowance of expenditure was deleted. (AY. 2010-11)
Allen Career Institute v. JCIT (2022) 99 ITR 269 (Jaipur) (Trib)
S. 36(1)(iii) : Interest on borrowed capital-Mixed funds-Interest-free funds larger than interest-free advances-Disallowance of interest was deleted.