https://www.taxtmi.com/caselaws?id=255634 The Court upheld the deletion of additions made under Section 32AB by the Assessing Officer, ruling in favor of the assessee. It emphasized that the withdrawn amounts could be used for repaying term loans contracted after 1986, supporting industrial growth. Additionally, the Court allowed separate relief under Sections 80HH and 80I, following the Supreme Court's decision and consistent High Court rulings. The final judgment dismissed the appeals, favoring the assessee and rejecting the revenue's arguments. en-us Thu, 04 Dec 2014 00:00:00 +0530 Thu, 22 Jan 2015 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255634 The Court upheld the deletion of additions made under Section 32AB by the Assessing Officer, ruling in favor of the assessee. It emphasized that the withdrawn amounts could be used for repaying term loans contracted after 1986, supporting industrial growth. Additionally, the Court allowed separate relief under Sections 80HH and 80I, following the Supreme Court's decision and consistent High Court rulings. The final judgment dismissed the appeals, favoring the assessee and rejecting the revenue's arguments. Case-Laws Income Tax Thu, 04 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255634