https://www.taxtmi.com/caselaws?id=25350 The court affirmed the disallowance of interest deduction under sections 67(3) and 36(1)(iii) of the Income-tax Act, 1961 for the assessment year 1977-78. The claim for deduction was found inadmissible as the interest paid was not supported by the necessary criteria outlined in the respective sections. The court upheld the Tribunal's decision, rejecting the assessee's claim and favoring the Revenue. en-us Wed, 05 Aug 1987 00:00:00 +0530 Thu, 28 Jan 2010 10:59:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25350 The court affirmed the disallowance of interest deduction under sections 67(3) and 36(1)(iii) of the Income-tax Act, 1961 for the assessment year 1977-78. The claim for deduction was found inadmissible as the interest paid was not supported by the necessary criteria outlined in the respective sections. The court upheld the Tribunal's decision, rejecting the assessee's claim and favoring the Revenue. Case-Laws Income Tax Wed, 05 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25350