https://www.taxtmi.com/caselaws?id=55147 The Tribunal dismissed the Revenue's appeal, affirming that the interest expenditure of Rs. 3,14,928 was allowable under Section 36(1)(iii) as it was incurred for business purposes. The alternative claim under Section 57(iii) was deemed academic and not addressed, given the primary claim's acceptance. The Tribunal's decision was based on a thorough analysis of the facts, legal provisions, and relevant judicial precedents, ensuring that the interest expenditure was justifiably deductible under the IT Act. en-us Mon, 15 Sep 2003 00:00:00 +0530 Tue, 23 Nov 2010 18:36:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55147 The Tribunal dismissed the Revenue's appeal, affirming that the interest expenditure of Rs. 3,14,928 was allowable under Section 36(1)(iii) as it was incurred for business purposes. The alternative claim under Section 57(iii) was deemed academic and not addressed, given the primary claim's acceptance. The Tribunal's decision was based on a thorough analysis of the facts, legal provisions, and relevant judicial precedents, ensuring that the interest expenditure was justifiably deductible under the IT Act. Case-Laws Income Tax Mon, 15 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55147