Home › Tax Laws › CIT v. Kanoria Sugar And General Manufacturing Co. Ltd. (2018) 407 ITR 737 (Raj) (HC) Editorial: SLP of revenue is dismissed; CIT v. Kanoria Sugar And General Manufacturing Co. Ltd. (2018) 405 ITR 1 ( St)

CIT v. Kanoria Sugar And General Manufacturing Co. Ltd. (2018) 407 ITR 737 (Raj) (HC) Editorial: SLP of revenue is dismissed; CIT v. Kanoria Sugar And General Manufacturing Co. Ltd. (2018) 405 ITR 1 ( St)

S. 36(1)(iii) :Interest on borrowed capital -Amount borrowed utilised for purchase of capital assets — Interest is deductible .

Dismissing the appeal of the revenue the Court held that ;amount borrowed  was utilised for purchase of capital assets. Interest is deductible .