https://www.taxtmi.com/caselaws?id=420672 The Tribunal upheld the CIT(A)'s decision to delete the interest disallowance under Section 36(1)(iii) of the Income Tax Act for Assessment Years 2006-07 and 2007-08. The loans provided by the assessee to its subsidiary were deemed commercially expedient, aligning with the assessee's business interests. The appeals by the revenue were dismissed, affirming that the loans were made from sufficient cash generation and in accordance with judicial precedents, including the Supreme Court's decision in CIT V/s S.A. Builders. en-us Fri, 01 Apr 2022 00:00:00 +0530 Thu, 07 Apr 2022 10:01:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420672 The Tribunal upheld the CIT(A)'s decision to delete the interest disallowance under Section 36(1)(iii) of the Income Tax Act for Assessment Years 2006-07 and 2007-08. The loans provided by the assessee to its subsidiary were deemed commercially expedient, aligning with the assessee's business interests. The appeals by the revenue were dismissed, affirming that the loans were made from sufficient cash generation and in accordance with judicial precedents, including the Supreme Court's decision in CIT V/s S.A. Builders. Case-Laws Income Tax Fri, 01 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420672