https://www.taxtmi.com/caselaws?id=441977 The Tribunal allowed the appeal filed by the assessee, ruling in favor of the assessee. The disallowance of interest expenses amounting to Rs. 47,82,612 was deleted as the loan to the subsidiary was financed from interest-free funds and given out of commercial expediency. The Tribunal emphasized that loans given under commercial expediency should not attract interest disallowance, citing the Supreme Court's decision in SA Builders Ltd. vs CIT. en-us Thu, 30 Mar 2023 00:00:00 +0530 Mon, 21 Aug 2023 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441977 The Tribunal allowed the appeal filed by the assessee, ruling in favor of the assessee. The disallowance of interest expenses amounting to Rs. 47,82,612 was deleted as the loan to the subsidiary was financed from interest-free funds and given out of commercial expediency. The Tribunal emphasized that loans given under commercial expediency should not attract interest disallowance, citing the Supreme Court's decision in SA Builders Ltd. vs CIT. Case-Laws Income Tax Thu, 30 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441977