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![SC confirms Income Tax Deduction of Interest on Loans taken for Setting up the Industry [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan-min.jpg "SC confirms Income Tax Deduction of Interest on Loans taken for Setting up the Industry [Read Order]")
SC confirms Income Tax Deduction of Interest on Loans taken for Setting up the Industry [Read Order]
In CIT v. Shri Multi Tech Ltd, the two-judge bench of the Supreme Court held that interest on loans taken for setting up the industry is allowable as...