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2016 (2) TMI 744 - AT - Income TaxInterest paid on loans utilized for advancing to sister concern - commercial expediency - Held that:- We hold that the advances were made by the assessee to its wholly owned subsidiary company during the course of its business and is a strategic investment and as a measure of commercial expediency to protect its business interests. Accordingly we don’t find any infirmity in the order of the Learned CIT(A) in deleting the addition . - Decided against revenue. Deferred revenue expenditure towards Technical Information Reference Material (TIRM) - Held that:- this issue has been allowed by the revenue in the earlier two assessment years with regard to the deferred revenue expenditure incurred towards TIRM based on license agreement entered into by the assessee with NIIT and in the asst year under appeal, the said agreement having expired, the assessee chose to write off the unabsorbed deferred revenue expenditure in its books. Hence we find that there is no mistake in the claim of the assessee - Decided against revenue
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