https://www.taxtmi.com/caselaws?id=22096 The Tribunal ruled in favor of the assessee, determining that interest on a loan advanced to a company should not be considered part of the assessee's income for tax assessment. Additionally, interest forgone by the company was treated as a business expenditure for the assessee based on commercial expediency and the timing of interest accrual and relinquishment. The judgment highlighted the importance of commercial expediency in such transactions and distinguished cases based on the timing of interest accrual and relinquishment. en-us Thu, 22 Feb 1990 00:00:00 +0530 Mon, 07 Dec 2009 10:56:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22096 The Tribunal ruled in favor of the assessee, determining that interest on a loan advanced to a company should not be considered part of the assessee's income for tax assessment. Additionally, interest forgone by the company was treated as a business expenditure for the assessee based on commercial expediency and the timing of interest accrual and relinquishment. The judgment highlighted the importance of commercial expediency in such transactions and distinguished cases based on the timing of interest accrual and relinquishment. Case-Laws Income Tax Thu, 22 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22096