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No disallowance if assessee had sufficient interest free funds to advance interest free loan to its subsidiary

October 12, 2017[2017] 86 46 (Bangalore - Trib.)/[2017] 167 ITD 95 (Bangalore - Trib.)

IT: Where assessee had sufficient interest free funds to cover advances given to its subsidiaries and no interest bearing fund was advanced to subsidiaries, no part of interest expenditure was to be disallowed

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