https://www.taxtmi.com/caselaws?id=178603 The Tribunal allowed the appeal regarding the disallowance of interest deduction under sections 36(1)(iii) and 57(iii) of the Income-tax Act. It held that interest expenditure on borrowed funds for share investments, whether for controlling interest or dividends, should be deductible under section 36(1)(iii). Additionally, the Tribunal remanded the issue of treatment of shares as investment or stock-in-trade back to the Assessing Officer for further examination, directing verification of the conversion claim and assessment in line with section 45(2) of the IT Act. The appeal was treated as allowed for statistical purposes. en-us Fri, 01 Apr 2005 00:00:00 +0530 Tue, 09 Feb 2016 12:58:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178603 The Tribunal allowed the appeal regarding the disallowance of interest deduction under sections 36(1)(iii) and 57(iii) of the Income-tax Act. It held that interest expenditure on borrowed funds for share investments, whether for controlling interest or dividends, should be deductible under section 36(1)(iii). Additionally, the Tribunal remanded the issue of treatment of shares as investment or stock-in-trade back to the Assessing Officer for further examination, directing verification of the conversion claim and assessment in line with section 45(2) of the IT Act. The appeal was treated as allowed for statistical purposes. Case-Laws Income Tax Fri, 01 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178603