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2016 (11) TMI 950 - AT - Income TaxAddition u/s 36 - Held that:- The assessee had sufficient interest-free funds to make investment in the group companies. Hon'ble Supreme Court in the case of Hero Cycles Pvt. Ltd. v. CIT [2015 (11) TMI 1314 - SUPREME COURT OF INDIA ] has held that where the investments has been made out of own funds/non-interest bearing funds, the disallowance under section 36(1)(iii) is not allowed. - Decided in favour of assessee
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