Tax / Income Tax : Investment in Subsidiaries / JV Companies and Income Tax Liability

Tax / Income Tax : Investment in Subsidiaries / JV Companies and Income Tax Liability

PCIT v. DLF Hotel Holdings Ltd [2018] GCtR 6377 (Delhi) has upheld the finding of ITAT that investment in subsidiaries/ joint venture companies was one of the main objects of the assessee and hence expenditure in the nature of interest incurred for the purpose of making investments cannot be disallowed under Section 36(1)(iii) of the Income-tax Act, 1961.