2017 (1) TMI 1579 - SCH - Income Tax

Disallowance of interest on borrowed loan - advances to sister concern - HC held that 2015 (9) TMI 1055 - KARNATAKA HIGH COURT though the borrowed money was advanced in favour of the sister concern of the assessee in the year 1999-2000 the sister concern has also not utilized the said amount for the said purpose. Even after three years the said project has not been commenced however the sister concern has diverted the said amount for some other project - Held that - Heard. Leave granted.