https://www.taxtmi.com/caselaws?id=240338 The Tribunal partly allowed the Revenue's appeal, holding that interest paid to UFPL was non-allowable under Section 36(1)(iii) and rejecting the set off of interest paid against interest received. The Tribunal upheld the allowance of expenses and deductions related to maintaining corporate status, even in the absence of substantial business activity. The assessee's cross-objection was dismissed. en-us Fri, 22 Nov 2013 00:00:00 +0530 Sun, 01 Dec 2013 20:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240338 The Tribunal partly allowed the Revenue's appeal, holding that interest paid to UFPL was non-allowable under Section 36(1)(iii) and rejecting the set off of interest paid against interest received. The Tribunal upheld the allowance of expenses and deductions related to maintaining corporate status, even in the absence of substantial business activity. The assessee's cross-objection was dismissed. Case-Laws Income Tax Fri, 22 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240338