https://www.taxtmi.com/caselaws?id=205516 The Tribunal affirmed that the interest reset premium and restructuring fees were allowable deductions as they fell within the definition of interest under section 2(28A) and were incurred wholly and exclusively for the business. However, the Tribunal directed a re-examination of the extent of allowability under section 43B. The Tribunal dismissed the Revenue's claim of suppressed gross profit regarding excess melting loss, upholding the allowable limit of 8.5%. The appeals were partly allowed for statistical purposes, with further evaluation directed for the interest reset premium under section 43B. en-us Mon, 23 May 2011 00:00:00 +0530 Fri, 23 Sep 2011 08:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205516 The Tribunal affirmed that the interest reset premium and restructuring fees were allowable deductions as they fell within the definition of interest under section 2(28A) and were incurred wholly and exclusively for the business. However, the Tribunal directed a re-examination of the extent of allowability under section 43B. The Tribunal dismissed the Revenue's claim of suppressed gross profit regarding excess melting loss, upholding the allowable limit of 8.5%. The appeals were partly allowed for statistical purposes, with further evaluation directed for the interest reset premium under section 43B. Case-Laws Income Tax Mon, 23 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205516