https://www.taxtmi.com/caselaws?id=347291 The Gujarat High Court ruled in favor of the respondent-assessee in a tax dispute involving the disallowance of interest on lending to a sister concern. The Court emphasized the importance of commercial justifications and business expediency in allowing such expenditures, citing relevant legal principles and precedents. The judgment dismissed all three tax appeals brought by the Revenue, highlighting the alignment with the principles of commercial expediency in business expenditures and the respondent-assessee's financing activities for the sister concern promoting sales of the assessee's products. en-us Mon, 28 Aug 2017 00:00:00 +0530 Thu, 31 Aug 2017 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347291 The Gujarat High Court ruled in favor of the respondent-assessee in a tax dispute involving the disallowance of interest on lending to a sister concern. The Court emphasized the importance of commercial justifications and business expediency in allowing such expenditures, citing relevant legal principles and precedents. The judgment dismissed all three tax appeals brought by the Revenue, highlighting the alignment with the principles of commercial expediency in business expenditures and the respondent-assessee's financing activities for the sister concern promoting sales of the assessee's products. Case-Laws Income Tax Mon, 28 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347291