https://www.taxtmi.com/caselaws?id=281571 The court did not entertain the appellant's challenge regarding the deductibility of interest paid under specific sections of the Income Tax Act, citing settled legal precedent. The appellant succeeded on an alternative claim for bad debts, leading to the non-consideration of deductions under other sections. The court upheld the decision to restrict a deduction under a specific section to a lower amount. The claim for depreciation on matured investments was disallowed, emphasizing that adhoc deductions for diminution in asset value were impermissible. The court admitted certain questions for appeal while not entertaining others due to settled legal positions and lack of substantial legal issues. en-us Tue, 23 Aug 2016 00:00:00 +0530 Tue, 25 Jun 2019 18:47:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281571 The court did not entertain the appellant's challenge regarding the deductibility of interest paid under specific sections of the Income Tax Act, citing settled legal precedent. The appellant succeeded on an alternative claim for bad debts, leading to the non-consideration of deductions under other sections. The court upheld the decision to restrict a deduction under a specific section to a lower amount. The claim for depreciation on matured investments was disallowed, emphasizing that adhoc deductions for diminution in asset value were impermissible. The court admitted certain questions for appeal while not entertaining others due to settled legal positions and lack of substantial legal issues. Case-Laws Income Tax Tue, 23 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281571