https://www.taxtmi.com/caselaws?id=363627 The Tribunal partly allowed the appeal, directing the AO to re-examine operational costs and allow set-off of the current year's operational expenditure against interest income. The disallowance of finance costs and other operating costs as business expenditure was upheld, as the assessee was deemed an investor in other companies and not engaged in independent business activities. The Tribunal concluded that deductions under Section 36(1)(iii) could not be permitted due to the lack of direct business involvement by the assessee. en-us Thu, 05 Jul 2018 00:00:00 +0530 Thu, 16 Aug 2018 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363627 The Tribunal partly allowed the appeal, directing the AO to re-examine operational costs and allow set-off of the current year's operational expenditure against interest income. The disallowance of finance costs and other operating costs as business expenditure was upheld, as the assessee was deemed an investor in other companies and not engaged in independent business activities. The Tribunal concluded that deductions under Section 36(1)(iii) could not be permitted due to the lack of direct business involvement by the assessee. Case-Laws Income Tax Thu, 05 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363627