https://www.taxtmi.com/caselaws?id=206364 The High Court set aside the orders of both the CIT (Appeals) and the Tribunal, directing the Assessing Officer to treat the interest paid as business expenditure, subject to Section 14A of the Act. The Court emphasized the importance of considering the assessee's money lending business and previous assessments, concluding that the Tribunal erred in disregarding these factors. The appeal was allowed, and the outcome favored the assessee, requiring reassessment of the interest expenditure within three months. en-us Thu, 29 Sep 2011 00:00:00 +0530 Tue, 11 Dec 2012 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206364 The High Court set aside the orders of both the CIT (Appeals) and the Tribunal, directing the Assessing Officer to treat the interest paid as business expenditure, subject to Section 14A of the Act. The Court emphasized the importance of considering the assessee's money lending business and previous assessments, concluding that the Tribunal erred in disregarding these factors. The appeal was allowed, and the outcome favored the assessee, requiring reassessment of the interest expenditure within three months. Case-Laws Income Tax Thu, 29 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206364