https://www.taxtmi.com/caselaws?id=69371 The Tribunal determined that the assessee was engaged in the money lending business, allowing the deduction of interest paid on borrowed funds. It rejected the Revenue's argument of cessation due to fund diversion, noting ongoing money lending activities. The Tribunal set aside the Commissioner's decision disallowing loss deduction for 1979-80, finding no business cessation. Additionally, it upheld the computation of house property income for 1980-81, dismissing the Revenue's appeal. en-us Wed, 08 Aug 1984 00:00:00 +0530 Wed, 06 Apr 2011 14:23:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69371 The Tribunal determined that the assessee was engaged in the money lending business, allowing the deduction of interest paid on borrowed funds. It rejected the Revenue's argument of cessation due to fund diversion, noting ongoing money lending activities. The Tribunal set aside the Commissioner's decision disallowing loss deduction for 1979-80, finding no business cessation. Additionally, it upheld the computation of house property income for 1980-81, dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 08 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69371