https://www.taxtmi.com/caselaws?id=389876 The Tribunal directed the AO to grant the deduction of interest paid on borrowed capital under Section 36(1)(iii), allowing the assessee's appeal for the Assessment Year 2015-16. The Tribunal upheld the CIT(A)'s decision to delete the disallowance of expenses related to raising loan funds under Section 37(1), dismissing the revenue's appeal. The assessee's cross-objection regarding the claim of depreciation became infructuous. The final order allowed the assessee's appeal, dismissed the revenue's appeal, and dismissed the assessee's cross-objection. en-us Fri, 06 Dec 2019 00:00:00 +0530 Wed, 18 Dec 2019 15:33:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389876 The Tribunal directed the AO to grant the deduction of interest paid on borrowed capital under Section 36(1)(iii), allowing the assessee's appeal for the Assessment Year 2015-16. The Tribunal upheld the CIT(A)'s decision to delete the disallowance of expenses related to raising loan funds under Section 37(1), dismissing the revenue's appeal. The assessee's cross-objection regarding the claim of depreciation became infructuous. The final order allowed the assessee's appeal, dismissed the revenue's appeal, and dismissed the assessee's cross-objection. Case-Laws Income Tax Fri, 06 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389876