https://www.taxtmi.com/caselaws?id=14849 A deduction for interest on a loan standing in the name of Smt. Shanti Devi was rejected because the Tribunal had relied on an earlier High Court precedent that no longer governed after being overruled by the Supreme Court. Once that precedent ceased to hold the field, the legal basis for allowing the deduction disappeared, and the claim could not be sustained. The question was therefore answered against the assessee and in favour of the Revenue. en-us Mon, 21 Aug 2000 00:00:00 +0530 Thu, 23 Jul 2009 16:12:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14849 A deduction for interest on a loan standing in the name of Smt. Shanti Devi was rejected because the Tribunal had relied on an earlier High Court precedent that no longer governed after being overruled by the Supreme Court. Once that precedent ceased to hold the field, the legal basis for allowing the deduction disappeared, and the claim could not be sustained. The question was therefore answered against the assessee and in favour of the Revenue. Case-Laws Income Tax Mon, 21 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14849