https://www.taxtmi.com/caselaws?id=238667 The Tribunal upheld the disallowance of Rs. 42,94,240/- premium on redemption of debentures claimed by the assessee, as it was not considered a liability of the assessee but of another entity post-demerger. The expenditure was deemed not related to the assessee's business and thus not allowable under Section 37(1) of the Income Tax Act. The appeal was dismissed, affirming the lower authorities' decision. en-us Mon, 16 Sep 2013 00:00:00 +0530 Tue, 29 Oct 2013 09:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238667 The Tribunal upheld the disallowance of Rs. 42,94,240/- premium on redemption of debentures claimed by the assessee, as it was not considered a liability of the assessee but of another entity post-demerger. The expenditure was deemed not related to the assessee's business and thus not allowable under Section 37(1) of the Income Tax Act. The appeal was dismissed, affirming the lower authorities' decision. Case-Laws Income Tax Mon, 16 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238667