https://www.taxtmi.com/caselaws?id=15215 The High Court of Madras clarified that interest paid on loans incurred in earlier years should be allowed to be deducted under section 5(e) regardless of the borrowing purpose. The court differentiated between crop loans and replanting loans, allowing deductions for interest on replanting and development loans under section 5(e) for the assessment years 1983-84 and 1984-85, partially allowing the revision petitions. en-us Tue, 02 Sep 1997 00:00:00 +0530 Mon, 03 Aug 2009 17:22:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15215 The High Court of Madras clarified that interest paid on loans incurred in earlier years should be allowed to be deducted under section 5(e) regardless of the borrowing purpose. The court differentiated between crop loans and replanting loans, allowing deductions for interest on replanting and development loans under section 5(e) for the assessment years 1983-84 and 1984-85, partially allowing the revision petitions. Case-Laws Income Tax Tue, 02 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15215