https://www.taxtmi.com/caselaws?id=265458 The tribunal upheld the disallowance of interest expenditure against Short Term Capital Gains, stating that interest expenses up to the period before an asset is first put to use must be capitalized. As the shares were purchased and not used, the interest expenditure was not capitalizable. Additionally, the tribunal upheld the rejection of the revised return of income filed after the deadline, deeming it invalid and dismissing the appeal by the assessee. en-us Wed, 20 Aug 2014 00:00:00 +0530 Mon, 12 Oct 2015 06:11:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265458 The tribunal upheld the disallowance of interest expenditure against Short Term Capital Gains, stating that interest expenses up to the period before an asset is first put to use must be capitalized. As the shares were purchased and not used, the interest expenditure was not capitalizable. Additionally, the tribunal upheld the rejection of the revised return of income filed after the deadline, deeming it invalid and dismissing the appeal by the assessee. Case-Laws Income Tax Wed, 20 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265458