https://www.taxtmi.com/caselaws?id=64180 The tribunal upheld the CIT(A)'s decision to allow the interest deduction claimed by the assessee on a loan taken for purchasing shares. The tribunal found that the interest paid for the investment in shares was genuinely made and that the deduction was valid as the funds were specifically used for acquiring shares. The tribunal dismissed the departmental appeal, affirming the allowance of the interest deduction based on legal precedents and the genuine payment of interest. en-us Fri, 11 Jul 1986 00:00:00 +0530 Sat, 05 Feb 2011 12:44:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64180 The tribunal upheld the CIT(A)'s decision to allow the interest deduction claimed by the assessee on a loan taken for purchasing shares. The tribunal found that the interest paid for the investment in shares was genuinely made and that the deduction was valid as the funds were specifically used for acquiring shares. The tribunal dismissed the departmental appeal, affirming the allowance of the interest deduction based on legal precedents and the genuine payment of interest. Case-Laws Income Tax Fri, 11 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64180