https://www.taxtmi.com/caselaws?id=385963 The appeal was allowed in favor of the assessee. The Tribunal directed the Assessing Officer to delete the addition made on account of interest received from External Commercial Borrowings (ECB) given to Indian borrowers. The Tribunal also ruled in favor of the assessee on the deduction under section 44C, levy of interest under section 234D, and set off of brought forward business losses and unabsorbed depreciation. The appellant's contentions were supported by previous Tribunal decisions, leading to a favorable outcome for the assessee on all issues raised. en-us Mon, 16 Sep 2019 00:00:00 +0530 Wed, 18 Sep 2019 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385963 The appeal was allowed in favor of the assessee. The Tribunal directed the Assessing Officer to delete the addition made on account of interest received from External Commercial Borrowings (ECB) given to Indian borrowers. The Tribunal also ruled in favor of the assessee on the deduction under section 44C, levy of interest under section 234D, and set off of brought forward business losses and unabsorbed depreciation. The appellant's contentions were supported by previous Tribunal decisions, leading to a favorable outcome for the assessee on all issues raised. Case-Laws Income Tax Mon, 16 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385963