Supreme Court · 2008 INSC 164 · Decided 8 February 2008
Deputy Commissioner of Income Tax, Ahmedabad v. M/S. Core Health Care LTD.
- Court
- Supreme Court of India
- Citation
- 2008 INSC 164 · [2008] 2 S.C.R. 662
- Case number
- CIVIL APPEAL No. 3952/2002
- Decided
- 8 February 2008
- Bench
- S.H. KAPADIA, B. SUDERSHAN REDDY (2-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 36
Headnote
2 S.C.R. 6~2 I- ! ~ A DEPUTY COMMISSIONER OF INCOME TAX, AHMEDABAD )L.4 . .... v. MIS. CORE HEALTH CARE LTD. (Civil Appeal Nos. 3952-3955 of 2002) ,__ B FEBRUARY 8, 2008 r (S.H. KAPADIA AND 8. SUDERSHAN REDDY, JJ.) I t '--- Income Tax Act, 1961: s. 36(1 (iii) - Computation of business income - ~ c towards interest paid on amount borrowed - A. 0. disallowed deduction holding that production on new machinery had not D started - /TAT and High Court allowed the claim - HELD: An assessee is entitled to claim deduction towards interest paid on borrowed capital used for business purpose
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