https://www.taxtmi.com/caselaws?id=373227 The Appellate Tribunal upheld the disallowance of the interest claim under section 36(1)(iii) of the Income Tax Act. The appellant failed to prove that the investments were made from surplus funds and the subsequent treatment of profits as capital gains weakened the claim for business expenditure. The Tribunal found that the appellant's non-interest bearing funds exceeded non-business investments, supporting the disallowance of the interest claim. en-us Mon, 12 Nov 2018 00:00:00 +0530 Wed, 09 Jan 2019 08:23:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373227 The Appellate Tribunal upheld the disallowance of the interest claim under section 36(1)(iii) of the Income Tax Act. The appellant failed to prove that the investments were made from surplus funds and the subsequent treatment of profits as capital gains weakened the claim for business expenditure. The Tribunal found that the appellant's non-interest bearing funds exceeded non-business investments, supporting the disallowance of the interest claim. Case-Laws Income Tax Mon, 12 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373227