https://www.taxtmi.com/caselaws?id=201346 The High Court upheld the Tribunal's decision on all three issues, ruling against the assessee. The court held that expenditure for raising share capital and investment in shares of a subsidiary company is capital expenditure, disallowing deductions. Additionally, interest on short-term deposits was confirmed as income from other sources, unless the assessee is engaged in financing activities. The court's decision aligned with precedents, emphasizing the capital nature of the expenditures and the tax treatment of interest income. en-us Thu, 17 Dec 2009 00:00:00 +0530 Mon, 31 Dec 2012 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201346 The High Court upheld the Tribunal's decision on all three issues, ruling against the assessee. The court held that expenditure for raising share capital and investment in shares of a subsidiary company is capital expenditure, disallowing deductions. Additionally, interest on short-term deposits was confirmed as income from other sources, unless the assessee is engaged in financing activities. The court's decision aligned with precedents, emphasizing the capital nature of the expenditures and the tax treatment of interest income. Case-Laws Income Tax Thu, 17 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201346