https://www.taxtmi.com/caselaws?id=70845 The ITAT Nagpur partly allowed the appeal, finding that interest on borrowed funds can be allowed for business purposes, in line with the Bombay High Court's decision in Bombay Samachar Limited. The case was remanded back to the ITO for additional review. (Case citation: ) en-us Wed, 12 Dec 1979 00:00:00 +0530 Tue, 19 Apr 2011 16:17:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70845 The ITAT Nagpur partly allowed the appeal, finding that interest on borrowed funds can be allowed for business purposes, in line with the Bombay High Court's decision in Bombay Samachar Limited. The case was remanded back to the ITO for additional review. (Case citation: ) Case-Laws Income Tax Wed, 12 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70845