Tribunal held that once the unsecured interest-free loan amount was more than the advances given to those parties, the disallowance of interest was not justified.(AY.2015-16)
CIT v. Ashok Agarwal (HUF) (2020) 84 ITR 54 / 207 TTJ 608 (Jaipur)(Trib.)
S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-Interest free funds-Advance of loan-No disallowance can be made.