Kuchipudi Krishna Kishore vs. The DCIT
Accordingly the appeals deserves to be allowed by setting aside the impugned
ITTA/291/2007HC Telangana03 May 2024
Bench: P.SAM KOSHY,N.TUKARAMJI
For Appellant: SRI A.V.A. SIVA KARTIKEYA on behalf ofFor Respondent: SRI ARVIND rep Ms. SUNDARI R PISUPATI
Section 260
14A of the Act is not
sustainable.
16. The other relevant statutory provision, in this context is
Section 36 of the Act, which also deals with the aspect of
deductions. Sub-section ('1 ) (iii) deals with the amount of interest
paid in respect of capital borrowed for the purpose of the business
or profession. The proviso explains that the amount
