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5. The revenue preferred appeals against the orders of the CIT(A) in all the three cases before ITAT. The contention of the revenue before the ITAT and also before us were that it was not the assessee‟s business to invest the shares of the subsidiary companies; that while the assessee had borrowed money and had paid interest thereon, the amount borrowed had been diverted interest-free to the subsidiary companies which no prudent businessman would do so; that the assessee company wrongly debited to its profit and loss account, the amount of interest towards acquisition of capital asset and that the expenditure incurred was not for the business purposes of the assessee.