Supreme Court Partly Allows Appeal in Income Tax Case Addressing Interest and Depreciation Issues. The court resolved the deductibility of interest on borrowings for unused capital assets and remitted the question of partial depreciation to the High Court for further consideration....
The case involved an appeal by the Jt. Commissioner of Income Tax against M/s. United Phosphorous Ltd concerning two significant questions of law related to the Income-tax Act, 1961. The first questio...




