https://www.taxtmi.com/caselaws?id=293778 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the disallowance of interest expenditure under Section 36(1)(iii) of the Income Tax Act. It was found that the borrowed funds were used for business purposes, and investments were made from the assessee's own funds. The Tribunal emphasized that the assessee had sufficient interest-free funds for the investments, leading to the dismissal of the Revenue's appeal. en-us Fri, 08 Feb 2019 00:00:00 +0530 Wed, 03 Mar 2021 10:38:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293778 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the disallowance of interest expenditure under Section 36(1)(iii) of the Income Tax Act. It was found that the borrowed funds were used for business purposes, and investments were made from the assessee's own funds. The Tribunal emphasized that the assessee had sufficient interest-free funds for the investments, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 08 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293778