https://www.taxtmi.com/caselaws?id=431455 The Tribunal emphasized the requirement of establishing a direct nexus between borrowed funds and investments to justify the disallowance of interest expenses under section 36(1)(iii) of the Income Tax Act, 1961. The Tribunal remanded the case to the Assessing Officer for further verification and allowed the appellant to present its case before a final decision is reached. en-us Mon, 19 Sep 2022 00:00:00 +0530 Wed, 14 Dec 2022 09:05:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431455 The Tribunal emphasized the requirement of establishing a direct nexus between borrowed funds and investments to justify the disallowance of interest expenses under section 36(1)(iii) of the Income Tax Act, 1961. The Tribunal remanded the case to the Assessing Officer for further verification and allowed the appellant to present its case before a final decision is reached. Case-Laws Income Tax Mon, 19 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431455