Held, that the onus was entirely on the assessee to establish on record that the interest expenditure claimed as deduction was incurred for the purpose of business. The assessee having failed to do so, the claim could not be allowed. (AY.2013-14)
Mll Logistics P. Ltd. v. ACIT (2022) 93 ITR 513 (Mum.)(Trib.)
S. 37(1) : Business expenditure-Interest-Failure to prove for the purpose of business-Disallowance is justified.