https://www.taxtmi.com/caselaws?id=192891 The tribunal allowed the appeal, directing the Assessing Officer to allow the claim of the assessee for deduction of interest under Section 36(1)(iii) of the Income Tax Act. The tribunal emphasized the principle of consistency, noting that similar claims had been allowed in subsequent assessment years. The tribunal's decision was based on established legal principles that interest on borrowed capital used for business purposes is deductible, even if there is no immediate income from the investment. en-us Fri, 23 Sep 2016 00:00:00 +0530 Thu, 29 Jun 2017 12:50:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192891 The tribunal allowed the appeal, directing the Assessing Officer to allow the claim of the assessee for deduction of interest under Section 36(1)(iii) of the Income Tax Act. The tribunal emphasized the principle of consistency, noting that similar claims had been allowed in subsequent assessment years. The tribunal's decision was based on established legal principles that interest on borrowed capital used for business purposes is deductible, even if there is no immediate income from the investment. Case-Laws Income Tax Fri, 23 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192891