https://www.taxtmi.com/caselaws?id=186294 The appeal was allowed, and the order of the Commissioner of Income-tax under Section 263 was vacated, restoring the original assessment by the Assessing Officer. The Tribunal concluded that the interest paid on foreign borrowing was allowable, and the provisions of Sections 58(1)(a)(ii), 195, and 9(1)(v) did not apply to disallow the interest payment. en-us Wed, 30 Apr 1997 00:00:00 +0530 Tue, 13 Sep 2016 17:00:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186294 The appeal was allowed, and the order of the Commissioner of Income-tax under Section 263 was vacated, restoring the original assessment by the Assessing Officer. The Tribunal concluded that the interest paid on foreign borrowing was allowable, and the provisions of Sections 58(1)(a)(ii), 195, and 9(1)(v) did not apply to disallow the interest payment. Case-Laws Income Tax Wed, 30 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186294