HC allows interest on borrowed Funds advanced to Subsidiary Companies

Advocate Akhilesh Kumar Sah The Pr. CIT Vs DLF Hotel Holding Ltd. (Delhi High Court) DLF Hotel Holding Case: Interest On Borrowed Funds Allowed As Deduction Under Section 36(1)(iii) Even If Some Of Funds Financed To Subsidiary Companies In PCIT vs. DLF Hotel Holding Ltd (ITA NO.1012/2018 decided on 28.09.2018) the facts in brief were that during the period relating to the A.Y. 2010-11 an addition of Rs.83,63,03,480/- was made to the opening balance of the paid up share capital of the respondent-assessee, enhancing the same to Rs.1259,68,00,000/-. The respondent-assessee had invested Rs.1165...