https://www.taxtmi.com/caselaws?id=372876 The case focused on whether investments made by the respondent company in its subsidiary companies were disallowable under Section 14A or 37 of the Act. The Tribunal held that interest on borrowed capital used for strategic business purposes, like investments in shares, could be considered as an allowable expenditure. The Tribunal also clarified that the provisions of Section 14A and Section 37 may not directly apply in cases involving capital investments. The judgment emphasized the strategic nature of the investments and their alignment with business objectives, ultimately upholding the allowability of interest on borrowed capital for such investments. en-us Tue, 18 Dec 2018 00:00:00 +0530 Tue, 01 Jan 2019 14:45:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372876 The case focused on whether investments made by the respondent company in its subsidiary companies were disallowable under Section 14A or 37 of the Act. The Tribunal held that interest on borrowed capital used for strategic business purposes, like investments in shares, could be considered as an allowable expenditure. The Tribunal also clarified that the provisions of Section 14A and Section 37 may not directly apply in cases involving capital investments. The judgment emphasized the strategic nature of the investments and their alignment with business objectives, ultimately upholding the allowability of interest on borrowed capital for such investments. Case-Laws Income Tax Tue, 18 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372876