https://www.taxtmi.com/caselaws?id=34255 The High Court upheld the Tribunal's findings that the loans given by the assessee company to its subsidiary were not from borrowed funds. It was determined that there was commercial expediency for granting the loan to the subsidiary, and the interest on borrowed funds used for such a loan should be allowed as a deduction. The Court emphasized that the Revenue should not interfere with the business decisions of the assessee. The Tribunal's role as the final fact-finding authority was affirmed, and its findings were deemed final and binding. en-us Fri, 24 Jul 2009 00:00:00 +0530 Thu, 15 Mar 2012 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34255 The High Court upheld the Tribunal's findings that the loans given by the assessee company to its subsidiary were not from borrowed funds. It was determined that there was commercial expediency for granting the loan to the subsidiary, and the interest on borrowed funds used for such a loan should be allowed as a deduction. The Court emphasized that the Revenue should not interfere with the business decisions of the assessee. The Tribunal's role as the final fact-finding authority was affirmed, and its findings were deemed final and binding. Case-Laws Income Tax Fri, 24 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34255