https://www.taxtmi.com/caselaws?id=245842 The Tribunal allowed the revenue's appeal for statistical purposes, setting aside the assessing officer's order disallowing interest on a cooperative society's investment in a private limited company. The Tribunal emphasized that the allowability of interest on borrowed funds depended on whether the dividend income received by the cooperative society from the company formed part of its total income. The matter was remitted for fresh consideration, providing the assessee with an opportunity to present their case in light of the factual aspects and legal principles discussed. en-us Fri, 04 Apr 2014 00:00:00 +0530 Wed, 09 Apr 2014 10:54:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245842 The Tribunal allowed the revenue's appeal for statistical purposes, setting aside the assessing officer's order disallowing interest on a cooperative society's investment in a private limited company. The Tribunal emphasized that the allowability of interest on borrowed funds depended on whether the dividend income received by the cooperative society from the company formed part of its total income. The matter was remitted for fresh consideration, providing the assessee with an opportunity to present their case in light of the factual aspects and legal principles discussed. Case-Laws Income Tax Fri, 04 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245842