https://www.taxtmi.com/caselaws?id=375972 The Supreme Court allowed the appeal, overturning the decisions of the Appellate Authority, ITAT, and High Court. It held that the Assessing Officer was justified in disallowing the deduction claimed by the assessee regarding interest payments converted into loans. The Court emphasized the importance of Explanation 3C to Section 43B of the Income Tax Act, 1961, in such cases, ruling in favor of the Revenue. en-us Thu, 21 Feb 2019 00:00:00 +0530 Sat, 11 Apr 2026 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375972 The Supreme Court allowed the appeal, overturning the decisions of the Appellate Authority, ITAT, and High Court. It held that the Assessing Officer was justified in disallowing the deduction claimed by the assessee regarding interest payments converted into loans. The Court emphasized the importance of Explanation 3C to Section 43B of the Income Tax Act, 1961, in such cases, ruling in favor of the Revenue. Case-Laws Income Tax Thu, 21 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375972