https://www.taxtmi.com/caselaws?id=9764 The High Court of Bombay ruled in favor of the Revenue, holding that interest paid on funds borrowed for investing in shares should not be reduced from dividend income for the purpose of granting deduction under section 80M. The court emphasized the distinction between the assessee's primary business activity and income from shares, ultimately deciding against allowing the deduction as a business expenditure. en-us Fri, 30 Sep 2005 00:00:00 +0530 Tue, 30 Jun 2009 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9764 The High Court of Bombay ruled in favor of the Revenue, holding that interest paid on funds borrowed for investing in shares should not be reduced from dividend income for the purpose of granting deduction under section 80M. The court emphasized the distinction between the assessee's primary business activity and income from shares, ultimately deciding against allowing the deduction as a business expenditure. Case-Laws Income Tax Fri, 30 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9764