https://www.taxtmi.com/caselaws?id=342900 The High Court upheld the Tribunal's decision to delete the disallowance of interest expenditure, finding the investments in sister concerns justified for commercial expediency and business purposes. The appellant, engaged in the publication business, had sufficient non-interest borrowing funds to invest in related concerns, leading to the deduction under the Income Tax Act. The Court dismissed the appeals, affirming the Tribunal's ruling that the interest-free advances to sister concerns were supported by legal precedents and served business interests. en-us Thu, 23 Feb 2017 00:00:00 +0530 Wed, 28 Aug 2019 12:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342900 The High Court upheld the Tribunal's decision to delete the disallowance of interest expenditure, finding the investments in sister concerns justified for commercial expediency and business purposes. The appellant, engaged in the publication business, had sufficient non-interest borrowing funds to invest in related concerns, leading to the deduction under the Income Tax Act. The Court dismissed the appeals, affirming the Tribunal's ruling that the interest-free advances to sister concerns were supported by legal precedents and served business interests. Case-Laws Income Tax Thu, 23 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342900