Interest paid on borrowed capital allowable if used for commercial expediency

S.A. Builders Ltd Vs. CIT (Appeals) Chandigarh & Anr. (Supreme Court) Interest paid on borrowed capital is an allowable expenditure u/s 36(1)(iii) even if not used for own business but used for commercial expediency . Explore the Supreme Court’s verdict in S.A. Builders Ltd vs. CIT (Appeals) Chandigarh & Anr. regarding the allowability of interest on borrowed capital under Section 36(1)(iii). Understand the critical considerations for deductions, including the importance of commercial expediency. Learn how the Court’s insights impact cases involving advances to ...