https://www.taxtmi.com/caselaws?id=419789 The appellate tribunal upheld the decision of the CIT(A) to restrict the deduction claimed by the assessee under section 57(iii) for interest expenses to the interest income earned from borrowed funds only. The tribunal expressed concerns over the commercial prudence of the assessee's actions and declined to interfere with the CIT(A)'s findings, ultimately dismissing the appeal and affirming the disallowance of the specific amount in question. en-us Thu, 30 Sep 2021 00:00:00 +0530 Mon, 21 Mar 2022 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419789 The appellate tribunal upheld the decision of the CIT(A) to restrict the deduction claimed by the assessee under section 57(iii) for interest expenses to the interest income earned from borrowed funds only. The tribunal expressed concerns over the commercial prudence of the assessee's actions and declined to interfere with the CIT(A)'s findings, ultimately dismissing the appeal and affirming the disallowance of the specific amount in question. Case-Laws Income Tax Thu, 30 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419789