https://www.taxtmi.com/caselaws?id=55436 The Tribunal allowed the appeal, overturning the decision to disallow the interest payment to charitable trusts. The Tribunal emphasized the need to consider the purpose of expenditure and the established nexus between interest paid and income earned, directing the Income Tax Officer to make necessary modifications in the assessment. en-us Mon, 14 Apr 1986 00:00:00 +0530 Sat, 27 Nov 2010 10:41:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55436 The Tribunal allowed the appeal, overturning the decision to disallow the interest payment to charitable trusts. The Tribunal emphasized the need to consider the purpose of expenditure and the established nexus between interest paid and income earned, directing the Income Tax Officer to make necessary modifications in the assessment. Case-Laws Income Tax Mon, 14 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55436