https://www.taxtmi.com/caselaws?id=8174 The court held that the interest expenditure incurred by the assessee in connection with owning shares was deductible for earning dividend income, not capital expenditure. The payment was deemed necessary to protect the asset and maintain dividend income, akin to borrowing for share investment. The Tribunal's initial ruling was overturned in favor of the assessee, emphasizing the significance of interest payments in preserving share ownership and income generation. The Commissioner was directed to pay costs. en-us Tue, 31 Mar 1970 00:00:00 +0530 Tue, 31 Mar 2009 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8174 The court held that the interest expenditure incurred by the assessee in connection with owning shares was deductible for earning dividend income, not capital expenditure. The payment was deemed necessary to protect the asset and maintain dividend income, akin to borrowing for share investment. The Tribunal's initial ruling was overturned in favor of the assessee, emphasizing the significance of interest payments in preserving share ownership and income generation. The Commissioner was directed to pay costs. Case-Laws Income Tax Tue, 31 Mar 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8174