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of HC held that appellant's purchase of shares in M/s Vardhman Polytex Ltd constituted stock-in-trade rather than investment, based on evidence of repeated sales and intention to trade. The court determined that interest paid on borrowed funds for share acquisition under Section 36(1)(iii) was deductible. The substantial legal questions were resolved in favor of the appellant-assessee, rejecting the revenue department's contrary position and affirming the characterization of shares as trading inventory.
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