https://www.taxtmi.com/caselaws?id=422768 The Tribunal partially allowed the appeal against the disallowance of interest expenditure under section 36(1)(iii) of the IT Act, 1961. The disallowance was challenged based on the strategic nature of the investment in shares of Bitwise Inc., USA for business development and control, aligning with precedent. The disallowed contribution to the gratuity scheme was waived during the appeal, and the deduction of Education Cess expenditure was not explicitly addressed in the judgment. en-us Fri, 29 Apr 2022 00:00:00 +0530 Sat, 21 May 2022 15:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422768 The Tribunal partially allowed the appeal against the disallowance of interest expenditure under section 36(1)(iii) of the IT Act, 1961. The disallowance was challenged based on the strategic nature of the investment in shares of Bitwise Inc., USA for business development and control, aligning with precedent. The disallowed contribution to the gratuity scheme was waived during the appeal, and the deduction of Education Cess expenditure was not explicitly addressed in the judgment. Case-Laws Income Tax Fri, 29 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422768