Dismissing the appeal of the revenue the Court held that the Tribunal was right is allowing the deduction. Followed Dy.CIT v. Core Health Care Ltd (2008) 298 ITR 194 (SC). (AY.1996-97)
CIT v. Maharashtra Hybrid Seeds Co. Ltd. (2022) 440 ITR 75/ 212 DTR 84/ 328 CTR 676 (Bom.) (HC)
S. 36(1)(iii) : Interest on borrowed capital-Unity control and management-Order of Tribunal is affirmed.