https://www.taxtmi.com/caselaws?id=359409 The Tribunal ruled in favor of the assessee, allowing the appeal regarding the disallowance of interest paid on a loan for investment in a foreign company. Additionally, the Tribunal upheld the CIT(A)'s decision to delete the additions under sections 40(a)(i) and 40(a)(ia) of the Income-tax Act, emphasizing consistency in previous rulings and the importance of business purpose in determining allowable expenses. The judgment cited relevant precedents to support these decisions. en-us Wed, 25 Apr 2018 00:00:00 +0530 Mon, 30 Apr 2018 06:11:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359409 The Tribunal ruled in favor of the assessee, allowing the appeal regarding the disallowance of interest paid on a loan for investment in a foreign company. Additionally, the Tribunal upheld the CIT(A)'s decision to delete the additions under sections 40(a)(i) and 40(a)(ia) of the Income-tax Act, emphasizing consistency in previous rulings and the importance of business purpose in determining allowable expenses. The judgment cited relevant precedents to support these decisions. Case-Laws Income Tax Wed, 25 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359409