Held that the assessee failed to establish commercial and business expediency for making investment in subsidiary. Disallowance is affirmed. (AY.2013-14)
Electronica Machine Tools Ltd. v. Dy. CIT (2023)107 ITR 24 (SN) (Pune) (Trib)
S. 37(1) : Business expenditure-Bad debts and investment-Written off-Investment and loans and advances to subsidiary-Failure to establish commercial and business expediency for making investment in subsidiary-Disallowance is affirmed. [S. 36(1)(vii)]