https://www.taxtmi.com/caselaws?id=464834 Interest foregone on a subsidiary's debit balance was treated as commercially expedient because the subsidiary had a weak financial position, and the Tribunal's deletion of the disallowance was upheld. The reference was stated to be covered by the Court's earlier decision involving the same assessee and the same point. The legal issue was answered in the affirmative, confirming that the interest disallowance could not be sustained on these facts and that the assessee's commercial expediency explanation prevailed over the Revenue's objection. en-us Thu, 28 Oct 2004 00:00:00 +0530 Tue, 18 Nov 2025 12:36:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464834 Interest foregone on a subsidiary's debit balance was treated as commercially expedient because the subsidiary had a weak financial position, and the Tribunal's deletion of the disallowance was upheld. The reference was stated to be covered by the Court's earlier decision involving the same assessee and the same point. The legal issue was answered in the affirmative, confirming that the interest disallowance could not be sustained on these facts and that the assessee's commercial expediency explanation prevailed over the Revenue's objection. Case-Laws Income Tax Thu, 28 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464834