https://www.taxtmi.com/caselaws?id=71347 The ITAT Pune-A dismissed the Department's appeals for asst. yrs. 1992-93 and 1993-94, upholding the CIT(A) orders regarding interest and commitment charges. The judgment emphasized the significance of interest deduction for capital borrowed for business purposes, referencing legal provisions and precedents like s. 36(1)(iii) and Expln. 8 to s. 43(1) of the Act. The decision clarified the principles governing the deduction of interest under s. 36(1)(iii) based on established case law. en-us Fri, 23 Jun 2006 00:00:00 +0530 Tue, 17 Jul 2012 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71347 The ITAT Pune-A dismissed the Department's appeals for asst. yrs. 1992-93 and 1993-94, upholding the CIT(A) orders regarding interest and commitment charges. The judgment emphasized the significance of interest deduction for capital borrowed for business purposes, referencing legal provisions and precedents like s. 36(1)(iii) and Expln. 8 to s. 43(1) of the Act. The decision clarified the principles governing the deduction of interest under s. 36(1)(iii) based on established case law. Case-Laws Income Tax Fri, 23 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71347