https://www.taxtmi.com/caselaws?id=70140 The Tribunal held that despite the discontinuation of the bus business, all businesses formed one integrated entity based on unity of control. Therefore, interest on borrowings related to business purposes was allowed as a deduction. The Commissioner's decision to disallow the interest was overturned, and the Tribunal restored the Income Tax Officer's decision. en-us Sat, 06 Aug 1977 00:00:00 +0530 Thu, 14 Apr 2011 15:35:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70140 The Tribunal held that despite the discontinuation of the bus business, all businesses formed one integrated entity based on unity of control. Therefore, interest on borrowings related to business purposes was allowed as a deduction. The Commissioner's decision to disallow the interest was overturned, and the Tribunal restored the Income Tax Officer's decision. Case-Laws Income Tax Sat, 06 Aug 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70140