https://www.taxtmi.com/caselaws?id=341558 SC ruled on tax reassessment and interest deduction. Court upheld tax authority's power to reassess income under Section 147, rejecting appellant's challenge to additional income evaluation. Simultaneously, the court allowed interest deduction under Section 36(1)(iii) for business loan, finding the deduction legally valid when loan was used for business purposes and interest was paid. Appeal partially allowed. en-us Tue, 04 Apr 2017 00:00:00 +0530 Tue, 10 Jun 2025 17:38:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341558 SC ruled on tax reassessment and interest deduction. Court upheld tax authority's power to reassess income under Section 147, rejecting appellant's challenge to additional income evaluation. Simultaneously, the court allowed interest deduction under Section 36(1)(iii) for business loan, finding the deduction legally valid when loan was used for business purposes and interest was paid. Appeal partially allowed. Case-Laws Income Tax Tue, 04 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341558