https://www.taxtmi.com/caselaws?id=275590 The High Court upheld the Tribunal's decision, dismissing the Revenue's appeal regarding the disallowance of interest expenditure on diverted funds for non-business purposes. The Tribunal found no material to overturn the CIT(Appeals) findings and emphasized the availability of sufficient funds for investments. Relying on precedents and citing commercial expediency for deductions, the Tribunal concluded that the investment in shares was made from the assessee's own funds, leading to the dismissal of the Revenue's appeal. en-us Tue, 22 Nov 2011 00:00:00 +0530 Tue, 09 Oct 2018 13:04:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275590 The High Court upheld the Tribunal's decision, dismissing the Revenue's appeal regarding the disallowance of interest expenditure on diverted funds for non-business purposes. The Tribunal found no material to overturn the CIT(Appeals) findings and emphasized the availability of sufficient funds for investments. Relying on precedents and citing commercial expediency for deductions, the Tribunal concluded that the investment in shares was made from the assessee's own funds, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Tue, 22 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275590