https://www.taxtmi.com/caselaws?id=6743 Distinct commercial ventures may constitute one business where they share unity of control, management, staff, capital and accounts; on those facts, the cashew-nut, tin-can and oil activities were treated as parts of the same business, so interest on business borrowings remained deductible. Interest linked to personal drawings or other non-business use of funds could not be allowed, so the deduction had to be confined to the portion referable to business borrowings, with any non-business element excluded. en-us Fri, 14 Oct 1966 00:00:00 +0530 Sun, 01 Feb 2009 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6743 Distinct commercial ventures may constitute one business where they share unity of control, management, staff, capital and accounts; on those facts, the cashew-nut, tin-can and oil activities were treated as parts of the same business, so interest on business borrowings remained deductible. Interest linked to personal drawings or other non-business use of funds could not be allowed, so the deduction had to be confined to the portion referable to business borrowings, with any non-business element excluded. Case-Laws Income Tax Fri, 14 Oct 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6743