https://www.taxtmi.com/caselaws?id=374310 The High Court upheld the Tribunal's decision, emphasizing the businessman's prerogative in determining commercial expediency in advancing funds to sister concerns. The Court reiterated that Income Tax Authorities should not interfere in such commercial decisions unless borrowed funds are not used for business purposes by the sister concerns. The appeal challenging the disallowance of interest paid on borrowed funds was dismissed, with no costs awarded. en-us Wed, 16 Jan 2019 00:00:00 +0530 Wed, 30 Jan 2019 08:20:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374310 The High Court upheld the Tribunal's decision, emphasizing the businessman's prerogative in determining commercial expediency in advancing funds to sister concerns. The Court reiterated that Income Tax Authorities should not interfere in such commercial decisions unless borrowed funds are not used for business purposes by the sister concerns. The appeal challenging the disallowance of interest paid on borrowed funds was dismissed, with no costs awarded. Case-Laws Income Tax Wed, 16 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374310