https://www.taxtmi.com/caselaws?id=291368 Piece-goods activity conducted under a separate style and from another building was treated as part of a single commercial undertaking, so separate accounts and physical separation did not make it a distinct business for disallowing interest on borrowed capital. Interest remained deductible where the borrowing was originally for business purposes and was applied in the business, even though the relevant branch had ceased before the assessment year. The reference was answered in favour of the assessee, and the claimed deduction was allowed with costs. en-us Thu, 19 Apr 1928 00:00:00 +0530 Sat, 07 Nov 2020 14:38:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291368 Piece-goods activity conducted under a separate style and from another building was treated as part of a single commercial undertaking, so separate accounts and physical separation did not make it a distinct business for disallowing interest on borrowed capital. Interest remained deductible where the borrowing was originally for business purposes and was applied in the business, even though the relevant branch had ceased before the assessment year. The reference was answered in favour of the assessee, and the claimed deduction was allowed with costs. Case-Laws Income Tax Thu, 19 Apr 1928 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291368