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Kerala High Court holds “interest on agricultural income tax takes the colour of the tax itself” — deduction under Section 37 denied as agricultural income is exempt

Court's decision The Kerala High Court dismissed the income tax appeal filed by the assessee and upheld the disallowance of interest paid on delayed payment of agricultural income tax. The…

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Rawlaw December 13, 2025

Posted inNews

Bombay High Court Rules on Commencement of Business and Set-off of Interest Expenditure — “Once Borrowed Funds Are Used for Business, Interest Paid Must Be Adjusted Against Interest Earned”

Court’s Decision The Bombay High Court allowed the appeal filed by the assessee-company and set aside the Income Tax Appellate Tribunal’s (ITAT) order which had denied the adjustment of interest…

Posted by

Rawlaw August 25, 2025

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