https://www.taxtmi.com/caselaws?id=327497 The High Court upheld the Tribunal's decision, ruling that the disallowance of expenditure on discount and interest on borrowing through commercial papers and NCDs for the assessment year 2008-09 was unwarranted. The Court found that all funds were utilized for business purposes after a merger, and there was no restructuring or share purchase in that year. The Tribunal and the Commissioner were deemed correct in deleting the addition made by the Assessing Officer, and the appeal was dismissed without costs. en-us Wed, 11 May 2016 00:00:00 +0530 Sat, 16 Jul 2016 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327497 The High Court upheld the Tribunal's decision, ruling that the disallowance of expenditure on discount and interest on borrowing through commercial papers and NCDs for the assessment year 2008-09 was unwarranted. The Court found that all funds were utilized for business purposes after a merger, and there was no restructuring or share purchase in that year. The Tribunal and the Commissioner were deemed correct in deleting the addition made by the Assessing Officer, and the appeal was dismissed without costs. Case-Laws Income Tax Wed, 11 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327497