https://www.taxtmi.com/caselaws?id=21761 Interest charged under sections 220(2), 215 and 201(1A) of the Income-tax Act was held not to constitute allowable business expenditure under section 37. The point was treated as covered by consistent earlier decisions, and no contrary authority was shown. Accordingly, the deduction claim failed and the question was answered in favour of the Revenue and against the assessee. en-us Mon, 02 Dec 1991 00:00:00 +0530 Sat, 17 May 2025 12:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21761 Interest charged under sections 220(2), 215 and 201(1A) of the Income-tax Act was held not to constitute allowable business expenditure under section 37. The point was treated as covered by consistent earlier decisions, and no contrary authority was shown. Accordingly, the deduction claim failed and the question was answered in favour of the Revenue and against the assessee. Case-Laws Income Tax Mon, 02 Dec 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21761