https://www.taxtmi.com/caselaws?id=287547 The High Court affirmed that the interest deduction claimed by the assessee was allowable as the payments to sister concerns were for acquiring property rights related to the real estate business. The Tribunal's decision was deemed reasonable and not perverse, aligning with the Commissioner's findings and supported by the business activities of the assessee. The Court dismissed the Revenue's appeals, stating that the Tribunal's view was justified and based on the material on record, concluding that the interest deduction was correctly allowed. en-us Wed, 30 Nov 2016 00:00:00 +0530 Sat, 18 Apr 2020 11:49:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287547 The High Court affirmed that the interest deduction claimed by the assessee was allowable as the payments to sister concerns were for acquiring property rights related to the real estate business. The Tribunal's decision was deemed reasonable and not perverse, aligning with the Commissioner's findings and supported by the business activities of the assessee. The Court dismissed the Revenue's appeals, stating that the Tribunal's view was justified and based on the material on record, concluding that the interest deduction was correctly allowed. Case-Laws Income Tax Wed, 30 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287547