https://www.taxtmi.com/caselaws?id=24953 A certificate for appeal to the Supreme Court was granted on the deductibility of interest paid on borrowed funds used to pay income-tax and make annuity deposits. The Court noted that the proposed appeal involved section 36(1)(iii) of the Income-tax Act, 1961, whose business-purpose language is broader than section 57 and was not considered in the earlier Supreme Court ruling relied on. It also took account of the fact that identical questions had already been certified in a connected matter. On that basis, the Court treated the case as fit for appeal. en-us Tue, 21 Jul 1987 00:00:00 +0530 Sat, 23 Jan 2010 13:36:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24953 A certificate for appeal to the Supreme Court was granted on the deductibility of interest paid on borrowed funds used to pay income-tax and make annuity deposits. The Court noted that the proposed appeal involved section 36(1)(iii) of the Income-tax Act, 1961, whose business-purpose language is broader than section 57 and was not considered in the earlier Supreme Court ruling relied on. It also took account of the fact that identical questions had already been certified in a connected matter. On that basis, the Court treated the case as fit for appeal. Case-Laws Income Tax Tue, 21 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24953