https://www.taxtmi.com/caselaws?id=35236 The Calcutta High Court upheld the allowance of the claim by the assessee regarding the OCPN premium amount as interest deduction. The decision was based on legal precedents and the principle of continuing benefit to the business over the debenture period. The lack of appeal by the revenue against the favorable decision for the assessment year 1996-97 further supported the assessee's position. The High Court dismissed the appeal, finding no substantial question of law requiring consideration. en-us Thu, 07 Jan 2010 00:00:00 +0530 Sun, 08 May 2011 13:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35236 The Calcutta High Court upheld the allowance of the claim by the assessee regarding the OCPN premium amount as interest deduction. The decision was based on legal precedents and the principle of continuing benefit to the business over the debenture period. The lack of appeal by the revenue against the favorable decision for the assessment year 1996-97 further supported the assessee's position. The High Court dismissed the appeal, finding no substantial question of law requiring consideration. Case-Laws Income Tax Thu, 07 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35236