The Assessing Officer disallowed interest on the ground that the assessee had borrowed funds at interest while advancing interest-free amounts to land co-owners. The Tribunal held that the advances represented amounts payable to the co-owners towards their share of the project consideration and for another upcoming project. There was, therefore, no question of charging interest from the co-owners and the interest disallowance was rightly deleted. (AY. 2018-19).