M/S.POPULAR FINANCE,PATHANAMTHITTA vs. THE ACIT, CIRCLE-1, THIRUVALLA

In the result, the appeals of the Revenue are partly allowed for statistical purposes

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

b) Whether interest expenditure incurred on public deposits is covered by the provisions of explanation to Section 37(1) of the Income Tax Act? c) If not covered by section 37(1) of the IT. Act, whether the interest expenditure disallowable either in total or in part under section 36(1 )(iii) of the Income

M/S POPULAR FINANCE COMPANY,PATHANAMTHITTA vs. THE ACIT,CIR-1,, THIRUVALLA

In the result, the appeals of the Revenue are partly allowed for statistical purposes