https://www.taxtmi.com/caselaws?id=449075 HC dismissed Revenue's appeal, upholding ITAT's order in favour of Assessee. It held that bidding expenses were incurred in the ordinary course of Assessee's existing infrastructure development business and thus allowable as revenue expenditure under s. 37(1), even if bids did not succeed. Interest on share application money advanced to the wholly owned subsidiary was held deductible under s. 36(1)(iii), the advance being for commercial expediency and directly linked to Assessee's infrastructure business carried out through the subsidiary. Disallowance under s. 14A r.w.r. 8D was rejected, Rule 8D being applicable only from AY 2008-09 and the issue not pressed before ITAT. HC found no substantial question of law. en-us Wed, 31 Jan 2024 00:00:00 +0530 Tue, 16 Dec 2025 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449075 HC dismissed Revenue's appeal, upholding ITAT's order in favour of Assessee. It held that bidding expenses were incurred in the ordinary course of Assessee's existing infrastructure development business and thus allowable as revenue expenditure under s. 37(1), even if bids did not succeed. Interest on share application money advanced to the wholly owned subsidiary was held deductible under s. 36(1)(iii), the advance being for commercial expediency and directly linked to Assessee's infrastructure business carried out through the subsidiary. Disallowance under s. 14A r.w.r. 8D was rejected, Rule 8D being applicable only from AY 2008-09 and the issue not pressed before ITAT. HC found no substantial question of law. Case-Laws Income Tax Wed, 31 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449075