https://www.taxtmi.com/caselaws?id=430358 The High Court upheld the ITAT's decisions in favor of the Assessee regarding the deductibility of compensation paid to subsidiaries and the allowance of deduction for interest on interest-free loans to subsidiaries. The Court found both expenditures to be necessitated by commercial expediency and intimately connected to the Assessee's business activities, ultimately dismissing the Revenue's appeals. The judgments emphasized the importance of a direct and intimate connection between the expenditure and the business, leading to rulings favorable to the Assessee in both cases. en-us Mon, 14 Nov 2022 00:00:00 +0530 Wed, 16 Nov 2022 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430358 The High Court upheld the ITAT's decisions in favor of the Assessee regarding the deductibility of compensation paid to subsidiaries and the allowance of deduction for interest on interest-free loans to subsidiaries. The Court found both expenditures to be necessitated by commercial expediency and intimately connected to the Assessee's business activities, ultimately dismissing the Revenue's appeals. The judgments emphasized the importance of a direct and intimate connection between the expenditure and the business, leading to rulings favorable to the Assessee in both cases. Case-Laws Income Tax Mon, 14 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430358