https://www.taxtmi.com/caselaws?id=368539 The Tribunal dismissed the Revenue's appeal, upholding the Commissioner of Income Tax (Appeals) decision in favor of the respondent-assessee. The addition to the opening balance of paid-up share capital was deemed justified due to investments in group companies and unsecured loans. The Tribunal emphasized that the investments in subsidiaries were part of the respondent's business activities, and the interest paid on such investments could not be disallowed under the Income Tax Act. Legal precedents supporting commercial expediency were cited, leading to the dismissal of the appeal with no substantial question of law arising. en-us Fri, 28 Sep 2018 00:00:00 +0530 Wed, 10 Oct 2018 09:09:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368539 The Tribunal dismissed the Revenue's appeal, upholding the Commissioner of Income Tax (Appeals) decision in favor of the respondent-assessee. The addition to the opening balance of paid-up share capital was deemed justified due to investments in group companies and unsecured loans. The Tribunal emphasized that the investments in subsidiaries were part of the respondent's business activities, and the interest paid on such investments could not be disallowed under the Income Tax Act. Legal precedents supporting commercial expediency were cited, leading to the dismissal of the appeal with no substantial question of law arising. Case-Laws Income Tax Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368539