https://www.taxtmi.com/caselaws?id=66515 The Tribunal upheld the Commissioner of Income-tax (Appeals) decision, determining that the cement unit is part of the same business as the fertilizer unit. Consequently, interest and commitment charges related to the cement unit were allowed as deductible expenditures under sec. 36(1)(iii). The interest paid on public deposits was also deemed deductible as it was raised for the operational needs of the existing fertilizer business. The Tribunal's ruling was influenced by the principles of unity of control and interdependence of the ventures, as established by the Supreme Court in previous cases. en-us Wed, 30 Nov 1988 00:00:00 +0530 Sat, 26 Feb 2011 12:45:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66515 The Tribunal upheld the Commissioner of Income-tax (Appeals) decision, determining that the cement unit is part of the same business as the fertilizer unit. Consequently, interest and commitment charges related to the cement unit were allowed as deductible expenditures under sec. 36(1)(iii). The interest paid on public deposits was also deemed deductible as it was raised for the operational needs of the existing fertilizer business. The Tribunal's ruling was influenced by the principles of unity of control and interdependence of the ventures, as established by the Supreme Court in previous cases. Case-Laws Income Tax Wed, 30 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66515