https://www.taxtmi.com/caselaws?id=260282 The Tribunal partially allowed the assessee's appeal, specifically regarding the disallowance of interest under section 57(iii). It held that interest expenditure on borrowed funds used for investments in shares qualifies for deduction under section 57(iii), emphasizing the purpose of expenditure over actual income earned. Other grounds raised by the assessee were dismissed as not pressed. The decision was announced on 15.05.2015. en-us Sun, 10 May 2015 00:00:00 +0530 Sat, 06 Jun 2015 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260282 The Tribunal partially allowed the assessee's appeal, specifically regarding the disallowance of interest under section 57(iii). It held that interest expenditure on borrowed funds used for investments in shares qualifies for deduction under section 57(iii), emphasizing the purpose of expenditure over actual income earned. Other grounds raised by the assessee were dismissed as not pressed. The decision was announced on 15.05.2015. Case-Laws Income Tax Sun, 10 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260282