https://www.taxtmi.com/caselaws?id=35076 The Revenue's appeal against the allowability of a deduction under section 36(1)(vii) was dismissed by the court. The court upheld the decision of the Tribunal, which found that the assessee, a clearing and forwarding agent, satisfied the conditions of section 36(2) for the claim under section 36(1)(vii). Despite the Revenue's argument that the assessee was not engaged in money-lending business, the court agreed with the lower authorities' findings of systematic money-lending activities by the assessee. As a result, the appeal was dismissed, and no substantial question of law was found to entertain the appeal. en-us Wed, 18 Jun 2008 00:00:00 +0530 Fri, 18 Dec 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35076 The Revenue's appeal against the allowability of a deduction under section 36(1)(vii) was dismissed by the court. The court upheld the decision of the Tribunal, which found that the assessee, a clearing and forwarding agent, satisfied the conditions of section 36(2) for the claim under section 36(1)(vii). Despite the Revenue's argument that the assessee was not engaged in money-lending business, the court agreed with the lower authorities' findings of systematic money-lending activities by the assessee. As a result, the appeal was dismissed, and no substantial question of law was found to entertain the appeal. Case-Laws Income Tax Wed, 18 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35076