https://www.taxtmi.com/caselaws?id=120857 The Tribunal held that the assessee is not entitled to deduction under section 37 of the Act for the premium paid on redemption of debentures, as the income from the business receipts was considered under the head 'Capital gains'. The order of the CIT(A) was reversed, and the disallowance made by the Assessing Officer was restored. Consequently, the appeal of the assessee was dismissed, and the appeal of the revenue was allowed. en-us Tue, 13 Nov 2007 00:00:00 +0530 Wed, 25 Jul 2012 10:11:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120857 The Tribunal held that the assessee is not entitled to deduction under section 37 of the Act for the premium paid on redemption of debentures, as the income from the business receipts was considered under the head 'Capital gains'. The order of the CIT(A) was reversed, and the disallowance made by the Assessing Officer was restored. Consequently, the appeal of the assessee was dismissed, and the appeal of the revenue was allowed. Case-Laws Income Tax Tue, 13 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120857