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2018 (4) TMI 134 - HC - Income TaxDisallowance of interest expenditure - whether investments in sister concerns served any business purpose - Held that:- The Pr. Commissioner of Income Tax (Central), Ludhiana v. Shri Satish Bala Malhotra, Legal Heir of Shri Ashok Kumar Malhotra, Prop. M/s Modern Publishers, MBD House, Railway Road, Jalandhar [2017 (4) TMI 1330 - PUNJAB & HARYANA HIGH COURT] and The Pr. Commissioner of Income Tax (Central), Ludhiana v. M/s Malhotra Book Depot, MBD House, Railway Road, Jalandhar [2017 (5) TMI 638 - PUNJAB AND HARYANA HIGH COURT] as held there was sufficient non-interest borrowing funds out of which the assessee had advanced/invested in sister concerns. - Decided in favour of assessee
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