https://www.taxtmi.com/caselaws?id=261281 The Tribunal upheld the CIT(A)'s decisions on all grounds in the case. The appeals by both the assessee and the revenue were dismissed. Key points included the partial allowance of interest expenses under Section 36(1)(iii) and the deletion of the disallowance of interest on service tax. The Tribunal stressed the importance of providing evidence to support claims and ensuring borrowed funds are used for business purposes. en-us Tue, 30 Jun 2015 00:00:00 +0530 Wed, 08 Jul 2015 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261281 The Tribunal upheld the CIT(A)'s decisions on all grounds in the case. The appeals by both the assessee and the revenue were dismissed. Key points included the partial allowance of interest expenses under Section 36(1)(iii) and the deletion of the disallowance of interest on service tax. The Tribunal stressed the importance of providing evidence to support claims and ensuring borrowed funds are used for business purposes. Case-Laws Income Tax Tue, 30 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261281