2019 (4) TMI 1442

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..... Mrs. Nilanjana Banerjee, Adv. JUDGMENT MD. NIZAMUDDIN, J.:- Heard the learned counsel for the parties. This appeal of the revenue arises out of the impugned order of the Income Tax Appellate Tribunal dated 23rd November, 2007 relating to assessment year 2003-04. On the following substantial questions of law this appeal was admitted by this Court on 5th August, 2008. " i. Whethe....

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....rst question. Grievance of the revenue against the Tribunal is against deletion of disallowance of the premium paid by the assessee on pre payment of loan by contending that the said expenditure is not allowable since it is capital in nature and the same should not treated as revenue expenditure. On perusal of the impugned order of the learned Tribunal it appears that in assessment year 2001-02 as....