https://www.taxtmi.com/caselaws?id=356968 The Court upheld the decisions of the lower appellate authorities, affirming the allowance of expenditure claimed for interest deduction under Section 80IC of the Income Tax Act. The Court found the explanations provided by the assessee satisfactory in demonstrating the proper allocation of interest-free funds, leading to substantial relief. The judgment dismissed the Revenue's appeals, emphasizing that no substantial question of law arose and that the lower authorities had appropriately addressed all objections raised by the Assessing Officer. en-us Mon, 26 Feb 2018 00:00:00 +0530 Wed, 14 Mar 2018 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356968 The Court upheld the decisions of the lower appellate authorities, affirming the allowance of expenditure claimed for interest deduction under Section 80IC of the Income Tax Act. The Court found the explanations provided by the assessee satisfactory in demonstrating the proper allocation of interest-free funds, leading to substantial relief. The judgment dismissed the Revenue's appeals, emphasizing that no substantial question of law arose and that the lower authorities had appropriately addressed all objections raised by the Assessing Officer. Case-Laws Income Tax Mon, 26 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356968