https://www.taxtmi.com/caselaws?id=376341 The Tax Case Appeal was dismissed as the Tribunal found that the diversion of borrowed funds for interest-free loans to sister concerns qualified as business expediency, in line with the decision in S.A.Builders Ltd. v. CIT. The appellant's arguments, supported by legal precedents and factual findings, were accepted, leading to the appeal being allowed in favor of the assessee with no costs imposed. The judgment emphasized the importance of factual findings in determining business expediency, citing Punjab Stainless Steel Inds. v. Commissioner of Income-tax VII. en-us Mon, 28 Jan 2019 00:00:00 +0530 Thu, 07 Mar 2019 07:47:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376341 The Tax Case Appeal was dismissed as the Tribunal found that the diversion of borrowed funds for interest-free loans to sister concerns qualified as business expediency, in line with the decision in S.A.Builders Ltd. v. CIT. The appellant's arguments, supported by legal precedents and factual findings, were accepted, leading to the appeal being allowed in favor of the assessee with no costs imposed. The judgment emphasized the importance of factual findings in determining business expediency, citing Punjab Stainless Steel Inds. v. Commissioner of Income-tax VII. Case-Laws Income Tax Mon, 28 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376341