https://www.taxtmi.com/caselaws?id=23905 The court affirmed the decision disallowing the interest deduction for the period ensuing subsequent to the previous year, as the liability to pay interest did not arise during the relevant previous year. Additionally, the court upheld the denial of the weighted deduction under section 35B of the Income-tax Act, as the expenditure for obtaining a certificate of fitness did not qualify as expenditure for tender preparation and related activities. The Revenue prevailed on both issues, resulting in the disallowance of the interest deduction and the denial of the weighted deduction. en-us Wed, 24 May 1989 00:00:00 +0530 Fri, 15 Jan 2010 11:45:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23905 The court affirmed the decision disallowing the interest deduction for the period ensuing subsequent to the previous year, as the liability to pay interest did not arise during the relevant previous year. Additionally, the court upheld the denial of the weighted deduction under section 35B of the Income-tax Act, as the expenditure for obtaining a certificate of fitness did not qualify as expenditure for tender preparation and related activities. The Revenue prevailed on both issues, resulting in the disallowance of the interest deduction and the denial of the weighted deduction. Case-Laws Income Tax Wed, 24 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23905