Tag Archives: commercial expediency

commercial expediency examined by Supreme Court

Commercial Expediency Facts of the Case  The present appeal preferred by the assessee pertains to the Assessment Year 1988-1989. In the income tax return filed by the assessee for the aforesaid Assessment year, the assessee, inter alia, claimed deduction of interest paid on borrowed sums from Bank under the provisions of Section 36(1)(iii) of the… Read More »