Assessee paid interest on short term and long term borrowings and claimed deduction for same. Assessing Officer disallowed interest expenditure to extent of diversion of funds for non-business purpose. on appeal the Tribunal held that  assessee had not given any evidence with regard to nexus between assessee’s business and interest free loan  accordingly disallowance  of interest made by Assessing Officer was  held to be justified. (AY. 2014-15, 2015-16)