1964 (10) TMI 12 - SC - Income Tax

Whether on the facts and in the circumstances of the case the said sum of ₹ 2,74,610 and ₹ 2,86,823 being the interest paid by the assessee is allowable as a deduction under the Income-tax Act under any of the sections 10(2)(iii), 10(2)(xv) or 10(i) ?

Held that:- We are, therefore, of the view that the allowance claimed is a permissible deduction under section 10(2)(xv). Appeal allowed.