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2016 (5) TMI 476 - CALCUTTA HIGH COURTPayment of interest towards purchase of debenture - revenue v/s capital expenditure - Held that:- The finding concurrently recorded both By the CIT (A) and the learned Tribunal that the debentures were held by way of business assets is not under challenge. In the absence of any challenge to the aforesaid finding it is axiomatic that the interest paid or payable for purchase of a business asset is allowable under section 36 - Decided against revenue
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