https://www.taxtmi.com/caselaws?id=374228 The Court dismissed the Revenue's appeal regarding the disallowance of interest under Section 36(1)(iii) of the Income Tax Act, 1961. It upheld the decision of the ITAT and CIT(A), emphasizing that the loans provided by the assessee to its subsidiary were for business purposes and based on commercial expedience. The judgment highlighted the significance of commercial considerations in determining the allowability of expenses and affirmed the lower Appellate Authorities' findings. Ultimately, the Court found no question of law to consider in this case. en-us Fri, 18 Jan 2019 00:00:00 +0530 Tue, 29 Jan 2019 07:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374228 The Court dismissed the Revenue's appeal regarding the disallowance of interest under Section 36(1)(iii) of the Income Tax Act, 1961. It upheld the decision of the ITAT and CIT(A), emphasizing that the loans provided by the assessee to its subsidiary were for business purposes and based on commercial expedience. The judgment highlighted the significance of commercial considerations in determining the allowability of expenses and affirmed the lower Appellate Authorities' findings. Ultimately, the Court found no question of law to consider in this case. Case-Laws Income Tax Fri, 18 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374228