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2018 (3) TMI 147 - AT - Income TaxDisallowance of interest being a notional interest on the interest free advance - Held that:- The assessee has stated that it was having sufficient amount to give advance free loans to Mrs. Preeti Sharma and Mr. Rijwan Khan. In support of this, the assessee has drawn our attention to the paper book page no.11, where the balance sheet as on 31.3.2009 is enclosed. On the said balance sheet, it is evident that the assessee was having sufficient balances to make such advances. Therefore, we direct the AO to delete these disallowances.- Decided in favour of assessee.
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