https://www.taxtmi.com/caselaws?id=436862 The tribunal allowed the appeal of the assessee, finding that the assessee had successfully demonstrated the commercial expediency and nexus between the interest paid and interest income earned. The tribunal held that the expenditure incurred out of commercial expediency is allowable under section 57(iii) of the Income Tax Act, setting aside the addition of Rs. 6,00,000/- made by the Assessing Officer. en-us Wed, 19 Apr 2023 00:00:00 +0530 Fri, 21 Apr 2023 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436862 The tribunal allowed the appeal of the assessee, finding that the assessee had successfully demonstrated the commercial expediency and nexus between the interest paid and interest income earned. The tribunal held that the expenditure incurred out of commercial expediency is allowable under section 57(iii) of the Income Tax Act, setting aside the addition of Rs. 6,00,000/- made by the Assessing Officer. Case-Laws Income Tax Wed, 19 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436862