https://www.taxtmi.com/caselaws?id=262364 The Tribunal upheld the decision allowing interest deduction under Section 36(1)(iii) of the Act for business purposes, dismissing the revenue's appeal challenging the disallowance of interest paid by the assessee for incomplete projects. The Tribunal confirmed that the borrowed funds were utilized for business activities, citing legal precedents and rejecting the revenue's arguments. The appeal was ultimately dismissed, with no substantial question of law identified for consideration. en-us Wed, 22 Jul 2015 00:00:00 +0530 Sat, 08 Aug 2015 06:12:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262364 The Tribunal upheld the decision allowing interest deduction under Section 36(1)(iii) of the Act for business purposes, dismissing the revenue's appeal challenging the disallowance of interest paid by the assessee for incomplete projects. The Tribunal confirmed that the borrowed funds were utilized for business activities, citing legal precedents and rejecting the revenue's arguments. The appeal was ultimately dismissed, with no substantial question of law identified for consideration. Case-Laws Income Tax Wed, 22 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262364