https://www.taxtmi.com/caselaws?id=25251 The court held that the Commissioner of Income-tax had jurisdiction to revise the assessment orders under section 263, as the doctrine of merger did not apply since the disallowance of interest was not considered in the appeal. The court ruled in favor of the Revenue on this issue. Regarding the disallowance of interest paid to the M.P. State Finance Corporation, the court found that the interest was deductible under section 36(1)(iii) as it was related to expanding the existing business, not starting a new one. The court ruled in favor of the assessee on this issue. No costs were awarded. en-us Thu, 02 Jul 1987 00:00:00 +0530 Wed, 27 Jan 2010 15:23:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25251 The court held that the Commissioner of Income-tax had jurisdiction to revise the assessment orders under section 263, as the doctrine of merger did not apply since the disallowance of interest was not considered in the appeal. The court ruled in favor of the Revenue on this issue. Regarding the disallowance of interest paid to the M.P. State Finance Corporation, the court found that the interest was deductible under section 36(1)(iii) as it was related to expanding the existing business, not starting a new one. The court ruled in favor of the assessee on this issue. No costs were awarded. Case-Laws Income Tax Thu, 02 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25251