https://www.taxtmi.com/caselaws?id=267248 The appeal was partly allowed for statistical purposes. The delay in filing the appeal was condoned, and the Tribunal directed the Assessing Officer to verify the commercial expediency of the loan to GPL for allowing the interest expenditure under Section 36(1)(iii). However, the interest expenditure related to the loan to PMIPL was disallowed. The Tribunal emphasized that expenditure must be incurred for earning income as per Section 57(iii) and not vice versa. en-us Mon, 28 Sep 2015 00:00:00 +0530 Tue, 03 Nov 2015 15:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267248 The appeal was partly allowed for statistical purposes. The delay in filing the appeal was condoned, and the Tribunal directed the Assessing Officer to verify the commercial expediency of the loan to GPL for allowing the interest expenditure under Section 36(1)(iii). However, the interest expenditure related to the loan to PMIPL was disallowed. The Tribunal emphasized that expenditure must be incurred for earning income as per Section 57(iii) and not vice versa. Case-Laws Income Tax Mon, 28 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267248