https://www.taxtmi.com/caselaws?id=389623 The High Court upheld the ITAT's decision regarding the deduction of interest on borrowed funds used for interest-free loans to subsidiaries. Relying on the precedent in S.A. Builders Ltd. case, the Court affirmed that the assessee's actions were driven by commercial expediency, and the Revenue had no grounds to interfere. The Court dismissed the Income Tax Appeal, finding no error in the Tribunal's decision, as the matter was settled in favor of the assessee based on established principles. en-us Mon, 22 Jul 2019 00:00:00 +0530 Wed, 11 Dec 2019 21:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389623 The High Court upheld the ITAT's decision regarding the deduction of interest on borrowed funds used for interest-free loans to subsidiaries. Relying on the precedent in S.A. Builders Ltd. case, the Court affirmed that the assessee's actions were driven by commercial expediency, and the Revenue had no grounds to interfere. The Court dismissed the Income Tax Appeal, finding no error in the Tribunal's decision, as the matter was settled in favor of the assessee based on established principles. Case-Laws Income Tax Mon, 22 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389623