Held that while calculating proportionate disallowance this amount of own funds were not considered by authorities below therefore the Assessing Officer is directed to work out figure of interest disallowance considering the assessess’s own funds. (AY. 2010-11 )
Samira Constructions (India) Ltd. v. DCIT (2023) 198 ITD 264 (Mum) (Trib.)
S. 36(1)(iii) :Interest on borrowed capital-Own funds-Advance of loan-Assessing Officer is directed to work out figure of interest disallowance considering figure of assessee’s own fund.