https://www.taxtmi.com/caselaws?id=339815 The Tribunal allowed the Assessee's appeal, canceling the orders of the authorities below and deleting the disputed addition of interest expenses in the assessment year 2009-10. The decision was based on the lack of evidence showing personal benefit or diversion of funds, emphasizing the importance of establishing a nexus between expenditure and business purpose, as supported by judicial precedents. The Tribunal highlighted the commercial expediency of the loans given to the subsidiary company from internal accruals, ultimately ruling in favor of the Assessee. en-us Fri, 03 Mar 2017 00:00:00 +0530 Wed, 08 Mar 2017 06:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339815 The Tribunal allowed the Assessee's appeal, canceling the orders of the authorities below and deleting the disputed addition of interest expenses in the assessment year 2009-10. The decision was based on the lack of evidence showing personal benefit or diversion of funds, emphasizing the importance of establishing a nexus between expenditure and business purpose, as supported by judicial precedents. The Tribunal highlighted the commercial expediency of the loans given to the subsidiary company from internal accruals, ultimately ruling in favor of the Assessee. Case-Laws Income Tax Fri, 03 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339815