https://www.taxtmi.com/caselaws?id=176125 The interest paid on borrowed funds for business purposes was deemed a legitimate deduction under section 36 of the Income Tax Act, 1961. The higher authorities allowed the claim initially disallowed by the Assessing Officer. The appeal was dismissed as no legal issue was identified. en-us Tue, 22 Sep 2009 00:00:00 +0530 Mon, 14 Dec 2015 12:05:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176125 The interest paid on borrowed funds for business purposes was deemed a legitimate deduction under section 36 of the Income Tax Act, 1961. The higher authorities allowed the claim initially disallowed by the Assessing Officer. The appeal was dismissed as no legal issue was identified. Case-Laws Income Tax Tue, 22 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176125