https://www.taxtmi.com/caselaws?id=418087 The Tribunal allowed the appeal, directing the Assessing Officer to delete the disallowed amount of interest expenses under section 36(1)(iii) of the Income Tax Act, 1961. The Tribunal found a business purpose for the investment in shares, establishing a nexus between the expenditure and business interest. Relying on precedents, the Tribunal emphasized that the Revenue cannot question the reasonableness of expenditure when there is commercial expediency. The decision overturned the Commissioner's disallowance, granting relief to the assessee and was pronounced in Ahmedabad on 01/02/2022. en-us Tue, 01 Feb 2022 00:00:00 +0530 Tue, 08 Feb 2022 06:55:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418087 The Tribunal allowed the appeal, directing the Assessing Officer to delete the disallowed amount of interest expenses under section 36(1)(iii) of the Income Tax Act, 1961. The Tribunal found a business purpose for the investment in shares, establishing a nexus between the expenditure and business interest. Relying on precedents, the Tribunal emphasized that the Revenue cannot question the reasonableness of expenditure when there is commercial expediency. The decision overturned the Commissioner's disallowance, granting relief to the assessee and was pronounced in Ahmedabad on 01/02/2022. Case-Laws Income Tax Tue, 01 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418087