2002 (8) TMI 882 - HC - Income Tax

Summary

The Calcutta High Court rejected the Revenue's appeal regarding the deduction of interest paid on business loans by the assessee. The assessee had successfully argued its case before the Tribunal, despite the AO's disapproval of interest-free loans given to its subsidiary. The Court noted a similar case for an earlier assessment year and summarily rejected the appeal as it raised only factual questions.