https://www.taxtmi.com/caselaws?id=366364 The Tribunal allowed the appeal, directing the Assessing Officer to permit the set off of interest income earned from Fixed Deposits with interest expenditure paid to the bank for machinery purchase. The Tribunal relied on the Supreme Court decision allowing netting off of interest, noting that only surplus interest constitutes income. The appeal was allowed, and judgment was pronounced on 29.08.2018. en-us Wed, 29 Aug 2018 00:00:00 +0530 Mon, 03 Sep 2018 12:13:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366364 The Tribunal allowed the appeal, directing the Assessing Officer to permit the set off of interest income earned from Fixed Deposits with interest expenditure paid to the bank for machinery purchase. The Tribunal relied on the Supreme Court decision allowing netting off of interest, noting that only surplus interest constitutes income. The appeal was allowed, and judgment was pronounced on 29.08.2018. Case-Laws Income Tax Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366364