https://www.taxtmi.com/caselaws?id=397131 The Court dismissed the appeal, emphasizing the importance of establishing commercial expediency and business purpose for claiming deductions under Section 36(1)(iii) of the Income Tax Act, 1961. The judgment highlighted the need for factual substantiation and consistency in interpreting tax provisions for interest payments on borrowed funds used for business activities. en-us Thu, 30 Jul 2020 00:00:00 +0530 Wed, 05 Aug 2020 09:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397131 The Court dismissed the appeal, emphasizing the importance of establishing commercial expediency and business purpose for claiming deductions under Section 36(1)(iii) of the Income Tax Act, 1961. The judgment highlighted the need for factual substantiation and consistency in interpreting tax provisions for interest payments on borrowed funds used for business activities. Case-Laws Income Tax Thu, 30 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397131