The Tribunal held that the assessee has failed to prove that the advance to sister concern was due to commercial expediency hence disallowance is held to be justified. (AY. 2005-06)
Mangalam Publications (India) (P.) Ltd. v. ACIT (2020) 183 ITD 1 (Cochin)(Trib.)
S. 36(1)(iii) : Interest on borrowed capital-Advance to sister concern-Failure to prove commercial expediency-Disallowance is held to be justified.