https://www.taxtmi.com/caselaws?id=346127 The High Court dismissed the appellant-revenue's appeal regarding the disallowance of interest expenditure on investments in sister concerns. The Tribunal's decision to delete the addition of Rs. 3,71,68,025 was upheld, as it found that the investments were made from interest-free funds and had commercial expediency. The Court determined that the disallowance under Section 36(1)(iii) of the Income Tax Act was not justified, referencing previous judgments that supported the assessee's position. The appeal was denied as no substantial legal question arose from the Tribunal's sound findings. en-us Mon, 24 Jul 2017 00:00:00 +0530 Thu, 04 Oct 2018 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346127 The High Court dismissed the appellant-revenue's appeal regarding the disallowance of interest expenditure on investments in sister concerns. The Tribunal's decision to delete the addition of Rs. 3,71,68,025 was upheld, as it found that the investments were made from interest-free funds and had commercial expediency. The Court determined that the disallowance under Section 36(1)(iii) of the Income Tax Act was not justified, referencing previous judgments that supported the assessee's position. The appeal was denied as no substantial legal question arose from the Tribunal's sound findings. Case-Laws Income Tax Mon, 24 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346127