https://www.taxtmi.com/caselaws?id=410538 The Tribunal partially allowed the assessee's appeal, directing the Assessing Officer to permit the interest as a deduction under section 36(1)(iii) of the Income Tax Act. The decision was based on the business purpose of the loans and the commercial expediency behind the decision not to charge interest in specific circumstances, supported by legal precedents and detailed explanations provided by the assessee. en-us Mon, 02 Aug 2021 00:00:00 +0530 Wed, 04 Aug 2021 08:35:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410538 The Tribunal partially allowed the assessee's appeal, directing the Assessing Officer to permit the interest as a deduction under section 36(1)(iii) of the Income Tax Act. The decision was based on the business purpose of the loans and the commercial expediency behind the decision not to charge interest in specific circumstances, supported by legal precedents and detailed explanations provided by the assessee. Case-Laws Income Tax Mon, 02 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410538