https://www.taxtmi.com/caselaws?id=406549 The Court upheld the CIT(A)'s decision to allow the interest expenditure claimed by the assessee, finding a direct nexus between the interest income and expenditure related to assets and liabilities transferred between the assessee and its holding company. The Tribunal dismissed the revenue's appeals for Assessment Years 2014-15 and 2015-16, emphasizing the importance of analyzing the specific financial transactions to determine the allowability of expenses against income. en-us Thu, 04 Feb 2021 00:00:00 +0530 Sat, 17 Apr 2021 11:04:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406549 The Court upheld the CIT(A)'s decision to allow the interest expenditure claimed by the assessee, finding a direct nexus between the interest income and expenditure related to assets and liabilities transferred between the assessee and its holding company. The Tribunal dismissed the revenue's appeals for Assessment Years 2014-15 and 2015-16, emphasizing the importance of analyzing the specific financial transactions to determine the allowability of expenses against income. Case-Laws Income Tax Thu, 04 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406549