COMMISSIONER OF INCOME-TAX versus INDIAN EXPRESS NEWESEPAPERS(MESUARI) (P) LTD.
The condition of deduction of interest on the loan capital should be used for the purpose of loan capital business. The money taken by the Assisi company which is transferred to the investment company allocated by it will result in its deduction. Is transferred to an Associate that is used by the Associate Company to construct the building. The veil may be raised, and the real character of the transaction is that the loan taken was not used for the purposes of the business of Assisi, the interest on the loan was deducted from the Indian Income Tax Act, 1961. , Section 36 was not
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