https://www.taxtmi.com/caselaws?id=260166 The Tribunal ruled in favor of the assessee, holding that the CIT's order under section 263 of the Income Tax Act was not erroneous or prejudicial to revenue interests. The Tribunal found that the interest paid was a deductible expense under section 57(iii) and allowed the appeal, emphasizing that the CIT could not intervene when two permissible views exist, as established in previous cases. The decision was pronounced on 25th March 2015. en-us Wed, 25 Mar 2015 00:00:00 +0530 Fri, 20 Nov 2015 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260166 The Tribunal ruled in favor of the assessee, holding that the CIT's order under section 263 of the Income Tax Act was not erroneous or prejudicial to revenue interests. The Tribunal found that the interest paid was a deductible expense under section 57(iii) and allowed the appeal, emphasizing that the CIT could not intervene when two permissible views exist, as established in previous cases. The decision was pronounced on 25th March 2015. Case-Laws Income Tax Wed, 25 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260166