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1996 (12) TMI 32 - DELHI HIGH COURT
Extract:
.......our of the assessee and that the Tribunal was not legally correct in holding that a part of the borrowing had been diverted by the assessee for its non-business purposes. We also opine that the assessee was not disentitled to claim the interest on those borrowings under section 36(1)(iii) of the Income-tax Act. Reference is disposed of accordingly.