S. 36(1)(iii) : Interest on borrowed capital-Interest-free advance given to subsidiary-No material placed on record by Assessee-Disallowance proper.

S. 36(1)(iii) :Interest on borrowed capital-Sufficient interest free funds-Disallowance was deleted.

S. 36(1)(iii) : Interest on borrowed capital-Allocation of expenses-Assessee having sufficient interest-free funds available in year under consideration and when amount advanced to its sister concern-Deleting the addition was held to be justified.

S. 36(1)(iii) : Interest on borrowed capital-Mixed funds-Interest-free funds larger than interest-free advances-Disallowance of interest was deleted.

S. 36(1)(iii) : Interest on borrowed capital-Stock in trade-Allowable as deduction.

S. 36(1)(iii) : Interest on borrowed capital-Premium paid maturity of foreign currency convertible bonds-Not debited to profit and loss account-Disallowance is not valid. [S. 145, Companies Act, 1956]

S. 36(1)(iii) : Interest on borrowed capital-Partner-Interest paid on debit balance/ excess withdrawal-Withdrawn for payment of income tax-Allowable as deduction. [S.153A]

S. 36(1)(iii) : Interest on borrowed capital-Invested as share application money in another group company-Interest on bank loan not allowable as business expenditure. [S. 37(1)]

S. 36(1)(iii) : Interest on borrowed capital-Loans utilised for the purpose of business-Rule of consistency followed-Deletion of interest is affirmed.

S. 36(1)(iii) : Interest on borrowed capital-Investment in quoted and unquoted shares-Own funds more than investments-Matter remanded for verification.