https://www.taxtmi.com/caselaws?id=177547 The Tribunal affirmed the decision of the CIT(A) to allow the capitalization of interest on borrowings for the acquisition of shares as part of the cost of acquisition. Relying on precedents from the Pune Bench of the Tribunal and the Hon'ble Karnataka High Court, it was held that interest expenses should be included in the actual cost of acquisition. The Tribunal rejected the revenue's appeal, concluding that interest on borrowings for share acquisition is a legitimate component of the cost of shares. en-us Wed, 27 Jul 2011 00:00:00 +0530 Tue, 12 Jan 2016 14:25:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177547 The Tribunal affirmed the decision of the CIT(A) to allow the capitalization of interest on borrowings for the acquisition of shares as part of the cost of acquisition. Relying on precedents from the Pune Bench of the Tribunal and the Hon'ble Karnataka High Court, it was held that interest expenses should be included in the actual cost of acquisition. The Tribunal rejected the revenue's appeal, concluding that interest on borrowings for share acquisition is a legitimate component of the cost of shares. Case-Laws Income Tax Wed, 27 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177547