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2017 (1) TMI 1527 - HC - Income TaxAddition u/s. 36(1) (iii) being payment made towards interest on loans borrowed to finance the cost of its expansion schemes.11 - Held that:- It is true that contention which has been raised is considered by the Allahabad High court, however, in our view and looking to the explanation added subsequently, the view taken by the Rajasthan High court in Hindustan Zinc Ltd. (2003 (7) TMI 21 - RAJASTHAN High Court) is required to be considered as held wherein justified in allowing the interest as revenue expenditure, on the funds borrowed In view of the law declared in earlier judgment, we decide the issues in favour of the assessee
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