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2015 (6) TMI 966 - AT - Income TaxDisallowance of interest calculated on advances given to sister concern - CIT(A) deleted the addition - Held that:- The assessee has total capital and reserves available at ₹ 140 crores along with the total income assessed by the Assessing Officer for the assessment years 2006-07 and 2007-08 at ₹ 26.86 crores and ₹ 43.47 crores respectively, the assessee has availability of funds interest-free more than the interest-free advances. Accordingly, we confirm the order of the Commissioner of Income-tax (Appeals) deleting the disallowance. - Decided in favour of assessee
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