https://www.taxtmi.com/caselaws?id=235656 The High Court upheld the Tribunal's decision to delete the disallowance of interest paid by the assessee for investment in shares of sister concerns. It was found that the interest was not related to share investments but rather for business purposes, and there was no evidence to prove that borrowed funds were utilized for share business. The Court affirmed the deletion of interest disallowance based on factual findings and legal interpretations, dismissing the department's appeal. en-us Thu, 25 Jul 2013 00:00:00 +0530 Tue, 30 Jul 2013 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235656 The High Court upheld the Tribunal's decision to delete the disallowance of interest paid by the assessee for investment in shares of sister concerns. It was found that the interest was not related to share investments but rather for business purposes, and there was no evidence to prove that borrowed funds were utilized for share business. The Court affirmed the deletion of interest disallowance based on factual findings and legal interpretations, dismissing the department's appeal. Case-Laws Income Tax Thu, 25 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235656