Section 36(1)(iii) of the Income Tax Act, 1961 — Business expenditure — Interest on borrowed Capital— Assessee invested out of interest free loans whereas incurred interest on bank loan and no credible evidence was on record to establish moneys borrowed were utilized for business purpose and borrowing for commercial expediency, thus, disallowance at 12 percent be made for this time period — Deputy Commissioner of income tax vs. Krishna Mohan Agarwal [2019] 74 ITR (trib) 499 (Lucknow)