Held that interest paid on fresh loan taken for repaying loan taken earlier was allowable as deduction. (AY. 2012-13 to 2014-15)
Suumeru Enterpises v. ITO (2021) 86 ITR 425 (Jaipur)(Trib.)
S. 36(1)(iii) : Interest on borrowed capital-Fresh loan taken for repaying loan taken earlier-Interest paid on fresh loan allowable as deduction.