https://www.taxtmi.com/caselaws?id=341217 The High Court allowed the appeal in favor of the assessee against the Department, concluding that the issue was decided in favor of the appellant regarding the deduction of interest payable to Indian Overseas Bank. The Court held that if income was to be considered, the loss should also be accounted for in the relevant year, ultimately leading to the allowance of the appeal. en-us Tue, 24 Jan 2017 00:00:00 +0530 Tue, 04 Apr 2017 10:00:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341217 The High Court allowed the appeal in favor of the assessee against the Department, concluding that the issue was decided in favor of the appellant regarding the deduction of interest payable to Indian Overseas Bank. The Court held that if income was to be considered, the loss should also be accounted for in the relevant year, ultimately leading to the allowance of the appeal. Case-Laws Income Tax Tue, 24 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341217