https://www.taxtmi.com/caselaws?id=325266 The Tribunal allowed the appeal, holding that the loans advanced to subsidiaries were for commercial expediency and thus allowable under Section 36(1)(iii) of the Income Tax Act. The disallowance of interest amounting to Rs. 6,63,78,465 was reversed, emphasizing the business purposes behind the advances to subsidiaries. The Tribunal cited the principle of consistency in assessments and various judicial precedents supporting the assessee's claim. en-us Wed, 03 Feb 2016 00:00:00 +0530 Tue, 15 Mar 2016 13:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325266 The Tribunal allowed the appeal, holding that the loans advanced to subsidiaries were for commercial expediency and thus allowable under Section 36(1)(iii) of the Income Tax Act. The disallowance of interest amounting to Rs. 6,63,78,465 was reversed, emphasizing the business purposes behind the advances to subsidiaries. The Tribunal cited the principle of consistency in assessments and various judicial precedents supporting the assessee's claim. Case-Laws Income Tax Wed, 03 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325266