Dismissing the appeal of the assessee the Court held that the assessee, failed to establish that the expenses related to Hotel business was her proprietorship business. Accordingly the Disallowance was confirmed. (AY. 2000-01 and 2001-02)
Sangeetha Jain (Smt.) v. ACIT (2019) 414 ITR 61/ 261 Taxman 220 (Karn.)(HC)
S. 36(1)(iii) : Interest on borrowed capital–Failure to establish that the expenses related to Hotel business was her proprietorship business – Disallowance was confirmed.