https://www.taxtmi.com/caselaws?id=9846 The Tribunal affirmed the Commissioner's decision to allow the claim of payment of interest as an expenditure by the assessee due to a fund shortage during the purchase of shares by M/s. Deepak Choudhary and M/s. P.S. Kalra on behalf of the assessee. The Tribunal held that the interest paid was justified as customary in share transactions where one person buys shares for others, supported by both parties treating the interest as income. The appeal was dismissed as no substantial question of law arose, upholding the allowance of the expenditure based on established trade practices. en-us Wed, 21 Sep 2005 00:00:00 +0530 Thu, 02 Jul 2009 09:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9846 The Tribunal affirmed the Commissioner's decision to allow the claim of payment of interest as an expenditure by the assessee due to a fund shortage during the purchase of shares by M/s. Deepak Choudhary and M/s. P.S. Kalra on behalf of the assessee. The Tribunal held that the interest paid was justified as customary in share transactions where one person buys shares for others, supported by both parties treating the interest as income. The appeal was dismissed as no substantial question of law arose, upholding the allowance of the expenditure based on established trade practices. Case-Laws Income Tax Wed, 21 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9846