https://www.taxtmi.com/caselaws?id=216670 The appeal challenged the deductibility of interest on borrowed funds for capital expenditure during the assessment year 1999-2000. The Court upheld the Tribunal's decision, allowing the deduction of interest paid for establishing further business centers as serving a business purpose. Additionally, expenses on repairs and maintenance were considered revenue in nature, leading to the dismissal of the appeal on this issue. The deletion of charging interest under Section 234D was also dismissed, resulting in the overall dismissal of the appeal with no costs awarded. en-us Tue, 04 Sep 2012 00:00:00 +0530 Mon, 17 Sep 2012 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216670 The appeal challenged the deductibility of interest on borrowed funds for capital expenditure during the assessment year 1999-2000. The Court upheld the Tribunal's decision, allowing the deduction of interest paid for establishing further business centers as serving a business purpose. Additionally, expenses on repairs and maintenance were considered revenue in nature, leading to the dismissal of the appeal on this issue. The deletion of charging interest under Section 234D was also dismissed, resulting in the overall dismissal of the appeal with no costs awarded. Case-Laws Income Tax Tue, 04 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216670