https://www.taxtmi.com/caselaws?id=792364 Interest on money borrowed and invested merely as capital in a firm is not deductible under Section 36(1)(iii) unless the borrowing is for the assessee's own business or profession. As the partner was not carrying on any business on her own and the firm alone conducted the business, the borrowed funds could not be treated as capital borrowed for her business purpose. The deduction claim was therefore rejected. en-us Wed, 20 May 2026 00:00:00 +0530 Wed, 27 May 2026 07:29:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792364 Interest on money borrowed and invested merely as capital in a firm is not deductible under Section 36(1)(iii) unless the borrowing is for the assessee's own business or profession. As the partner was not carrying on any business on her own and the firm alone conducted the business, the borrowed funds could not be treated as capital borrowed for her business purpose. The deduction claim was therefore rejected. Case-Laws Income Tax Wed, 20 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792364