https://www.taxtmi.com/caselaws?id=386907 The Tribunal allowed the appeal partially, setting aside the disallowance of interest expenditure on unsecured loans for proprietary concerns. Emphasizing consistency in tax assessments and recognizing the lack of separate legal identity for proprietary concerns, the Tribunal concluded that the interest expenditure was an allowable business expense under Section 36(1)(iii) of the Income Tax Act. The decision was rendered on 25th September 2019. en-us Wed, 25 Sep 2019 00:00:00 +0530 Fri, 11 Oct 2019 13:05:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386907 The Tribunal allowed the appeal partially, setting aside the disallowance of interest expenditure on unsecured loans for proprietary concerns. Emphasizing consistency in tax assessments and recognizing the lack of separate legal identity for proprietary concerns, the Tribunal concluded that the interest expenditure was an allowable business expense under Section 36(1)(iii) of the Income Tax Act. The decision was rendered on 25th September 2019. Case-Laws Income Tax Wed, 25 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386907