Loan to sister concern from non –interest bearing funds. No disallowance can be made. (AY. 2006 -07)
CIT v. Harrisons Malayalam Ltd. (2019) 414 ITR 344 / 183 DTR 302/ 266 Taxman 414/ 311 CTR 802(Ker.)(HC)
S. 36(1)(iii) : Interest on borrowed capital-Loan to sister concern from non –interest bearing funds–No disallowance can be made.