https://www.taxtmi.com/caselaws?id=390793 The Court upheld the Tribunal's decision regarding the legality of reopening the assessment for the Assessment Year 2004-05, stating that the investment in shares was for strategic business purposes. The Court also ruled in favor of the assessee, allowing the license fee and interest on borrowed funds for investment in shares as business expenditures, emphasizing the strategic business purposes behind the investments. The appeal by the Revenue was dismissed, with the Court affirming the Tribunal's decision on all substantial questions of law. en-us Mon, 02 Dec 2019 00:00:00 +0530 Sat, 11 Jan 2020 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390793 The Court upheld the Tribunal's decision regarding the legality of reopening the assessment for the Assessment Year 2004-05, stating that the investment in shares was for strategic business purposes. The Court also ruled in favor of the assessee, allowing the license fee and interest on borrowed funds for investment in shares as business expenditures, emphasizing the strategic business purposes behind the investments. The appeal by the Revenue was dismissed, with the Court affirming the Tribunal's decision on all substantial questions of law. Case-Laws Income Tax Mon, 02 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390793