Tribunal held that payment of interest was made as part of contract to unrelated parties is held to be allowable as deduction on commercial expediency. (AY. 2011-12).
Unitech Ltd. v. DCIT (2019) 176 ITD 266 (Delhi)(Trib.)
S. 37(1) : Business expenditure–Interest-Commercial expediency –Unrelated parties-Payment was made as part of contract– Disallowances cannot be made. [S. 36(1)(iii)]