https://www.taxtmi.com/caselaws?id=388555 The Tribunal allowed the appeal of the assessee, overturning the disallowance of claimed expenses under section 36(1)(iii) of the I.T. Act. It held that the investments made using borrowed funds were strategic for business purposes, aligning with the company's objectives. The Tribunal found that the borrowed funds were utilized for business activities, justifying the deduction of interest claimed by the assessee. The decision favored the assessee, recognizing the investments' alignment with the business model and objectives, leading to the allowance of the deduction. en-us Fri, 15 Nov 2019 00:00:00 +0530 Mon, 18 Nov 2019 10:43:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388555 The Tribunal allowed the appeal of the assessee, overturning the disallowance of claimed expenses under section 36(1)(iii) of the I.T. Act. It held that the investments made using borrowed funds were strategic for business purposes, aligning with the company's objectives. The Tribunal found that the borrowed funds were utilized for business activities, justifying the deduction of interest claimed by the assessee. The decision favored the assessee, recognizing the investments' alignment with the business model and objectives, leading to the allowance of the deduction. Case-Laws Income Tax Fri, 15 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388555