https://www.taxtmi.com/caselaws?id=14186 The Tribunal upheld the decision in favor of the assessee, ruling against the Revenue. It was determined that the suppliers had the discretion to charge interest, and the assessee was not obligated to provide for such contingencies. The deduction for interest payable/paid was allowed, and the reference was disposed of accordingly. en-us Tue, 13 Mar 2001 00:00:00 +0530 Tue, 14 Jul 2009 12:53:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14186 The Tribunal upheld the decision in favor of the assessee, ruling against the Revenue. It was determined that the suppliers had the discretion to charge interest, and the assessee was not obligated to provide for such contingencies. The deduction for interest payable/paid was allowed, and the reference was disposed of accordingly. Case-Laws Income Tax Tue, 13 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14186