Interest Disallowance u/s 36(1)(iii) Overturned: Assessee Justifies Investment in Subsidiary Shares as Business Objective.

Disallowance of interest u/s 36(1)(iii) - the assessee has successfully demonstrated that the investment in shares to subsidiary company was in furtherance of main objects of its business and, therefore, the assessee is very much entitled for claim of interest paid on borrowed capital. .....

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