https://www.taxtmi.com/caselaws?id=434248 The appeal filed by the assessee was allowed, and the disallowance of interest expenditure under section 36(1)(iii) of the Income Tax Act was deleted. The Tribunal found that the investments were made from interest-free funds, establishing a clear connection between the funds and the interest expenditure. This decision aligned with the precedent set in CIT v. Reliance Industries Ltd., resulting in the favorable outcome for the assessee in this case. en-us Wed, 15 Feb 2023 00:00:00 +0530 Mon, 20 Feb 2023 08:30:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434248 The appeal filed by the assessee was allowed, and the disallowance of interest expenditure under section 36(1)(iii) of the Income Tax Act was deleted. The Tribunal found that the investments were made from interest-free funds, establishing a clear connection between the funds and the interest expenditure. This decision aligned with the precedent set in CIT v. Reliance Industries Ltd., resulting in the favorable outcome for the assessee in this case. Case-Laws Income Tax Wed, 15 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434248