Condonation of re-filing delay allows appeal to proceed on whether borrowing interest for investment is business expenditure.

Delay in re-filing the appeal was condoned, allowing the application to proceed. The matter was then listed for final hearing on whether interest paid on borrowings used for investment could be treated as business expenditure. No substantive ruling on that tax treatment issue was given at this stage; it was left for argument.

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Issues: Whether the delay in re-filing the appeal should be condoned; and whether the appeal should proceed to final hearing on the question whether interest paid on borrowings for investment could be treated as business expenditure.

Outcome: The delay in re-filing the appeal was condoned, the application was allowed, the appeal was listed for final hearing, and the substantive question was left for arguments.

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