https://www.taxtmi.com/caselaws?id=59915 The Tribunal partially allowed the appeal, reducing the total income of the assessee by a specific amount corresponding to the apportioned interest expense towards business income. The decision emphasized the distinction between tax and interest, upheld the importance of legal precedents, and applied principles of proportionality in allowing the deduction for a portion of the interest on unpaid municipal tax. en-us Thu, 07 Aug 1986 00:00:00 +0530 Sat, 01 Jan 2011 17:55:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59915 The Tribunal partially allowed the appeal, reducing the total income of the assessee by a specific amount corresponding to the apportioned interest expense towards business income. The decision emphasized the distinction between tax and interest, upheld the importance of legal precedents, and applied principles of proportionality in allowing the deduction for a portion of the interest on unpaid municipal tax. Case-Laws Income Tax Thu, 07 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59915