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2015 (12) TMI 200 - HC - Income TaxAllowable interest to the assessee - Held that:- The authorities below on appreciation of material on record have concurrently recorded that the assessee was entitled to 1/4th deduction, i.e. 25% of the entire interest. Learned counsel for the assessee was not able to demonstrate that the approach of the authorities below was erroneous or perverse or that the findings of fact recorded were based on misreading or misappreciation of evidence on record. The view of the Assessing Officer, the CIT(A) and the Tribunal is a plausible view based on material on record which warrant no interference by this Court. - Decided against assessee.
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