https://www.taxtmi.com/caselaws?id=338697 The Court held that the interest/service charges paid by the investment company were allowable as a deduction under the Income Tax Act. The Court found that the expenditure was akin to a service charge and not of a capital nature, as it did not relate to the acquisition of capital. Therefore, the Court ruled in favor of the assessee, dismissing the appeals filed by the Revenue for the relevant assessment years. en-us Thu, 19 Jan 2017 00:00:00 +0530 Sat, 01 Apr 2017 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338697 The Court held that the interest/service charges paid by the investment company were allowable as a deduction under the Income Tax Act. The Court found that the expenditure was akin to a service charge and not of a capital nature, as it did not relate to the acquisition of capital. Therefore, the Court ruled in favor of the assessee, dismissing the appeals filed by the Revenue for the relevant assessment years. Case-Laws Income Tax Thu, 19 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338697