https://www.taxtmi.com/caselaws?id=416781 The High Court dismissed the appeal, upholding the allowability of the expenditure on processing fees for a loan taken by a third party as a deduction under Section 37(1) of the Income Tax Act. The Court affirmed the decisions of the CIT(A) and the Tribunal, emphasizing that the expenditure facilitated a substantial improvement in the appellant's business earnings and was allowable as business expenditure. en-us Mon, 03 Jan 2022 00:00:00 +0530 Thu, 06 Jan 2022 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416781 The High Court dismissed the appeal, upholding the allowability of the expenditure on processing fees for a loan taken by a third party as a deduction under Section 37(1) of the Income Tax Act. The Court affirmed the decisions of the CIT(A) and the Tribunal, emphasizing that the expenditure facilitated a substantial improvement in the appellant's business earnings and was allowable as business expenditure. Case-Laws Income Tax Mon, 03 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416781