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2008 (2) TMI 11 - SC - Income Tax
Tribunal has allowed the deduction of "Commitment charges" u/s 37 and not only u/s 36(1)(iii), hence there is no infirmity therein - Once the Department equated the charges payable to COFACE with interest they are held to be revenue expenditure and deductible u/s 37 of the Income-tax Act, 1961