https://www.taxtmi.com/caselaws?id=358023 The High Court dismissed the revenue's appeals challenging the deletion of interest expenditure disallowance by the Income Tax Appellate Tribunal. The Court relied on previous judgments establishing that interest expenditure on investments in sister concerns must serve a business purpose to be valid. Consistent with past decisions, the Court upheld the Tribunal's deletion of the disallowance, emphasizing the necessity for a legitimate business rationale for such expenditures. en-us Tue, 08 Aug 2017 00:00:00 +0530 Tue, 03 Apr 2018 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358023 The High Court dismissed the revenue's appeals challenging the deletion of interest expenditure disallowance by the Income Tax Appellate Tribunal. The Court relied on previous judgments establishing that interest expenditure on investments in sister concerns must serve a business purpose to be valid. Consistent with past decisions, the Court upheld the Tribunal's deletion of the disallowance, emphasizing the necessity for a legitimate business rationale for such expenditures. Case-Laws Income Tax Tue, 08 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358023