https://www.taxtmi.com/caselaws?id=120062 The Tribunal dismissed the assessee's claim for deduction under section 36(1)(iii) for interest expenditure but directed reconsideration under section 57(iii) for the proportionate interest related to actual utilization of borrowed funds. The disallowance of professional fees paid for restructuring expenses was upheld as capital expenditure with no business nexus, as confirmed by the CIT(A) and Tribunal. en-us Mon, 31 Jul 2006 00:00:00 +0530 Mon, 16 Jul 2012 14:57:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120062 The Tribunal dismissed the assessee's claim for deduction under section 36(1)(iii) for interest expenditure but directed reconsideration under section 57(iii) for the proportionate interest related to actual utilization of borrowed funds. The disallowance of professional fees paid for restructuring expenses was upheld as capital expenditure with no business nexus, as confirmed by the CIT(A) and Tribunal. Case-Laws Income Tax Mon, 31 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120062