https://www.taxtmi.com/caselaws?id=795190 Interest on borrowed funds invested in venture capital funds was deductible against income from other sources under Section 57 because the investments exceeded the borrowings, establishing a nexus with income-yielding investments. Consistent acceptance of the same claim in earlier and later years on unchanged facts supported the deduction, while repayment before year-end explained the absence of an outstanding loan. Professional expenditure for evaluating windmill power projects was also allowable as business expenditure because it related to expansion and feasibility assessment within an existing business, with no evidence of personal or non-business use. Both disallowances were deleted. en-us Wed, 18 Mar 2026 00:00:00 +0530 Sat, 18 Jul 2026 08:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795190 Interest on borrowed funds invested in venture capital funds was deductible against income from other sources under Section 57 because the investments exceeded the borrowings, establishing a nexus with income-yielding investments. Consistent acceptance of the same claim in earlier and later years on unchanged facts supported the deduction, while repayment before year-end explained the absence of an outstanding loan. Professional expenditure for evaluating windmill power projects was also allowable as business expenditure because it related to expansion and feasibility assessment within an existing business, with no evidence of personal or non-business use. Both disallowances were deleted. Case-Laws Income Tax Wed, 18 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795190