https://www.taxtmi.com/caselaws?id=195322 The Tribunal upheld the CIT(A)'s decision, ruling that the interest paid by the assessee on borrowed funds for acquiring shares should be considered as part of the cost of shares and allowed as a deduction in computing short-term capital gains. The Tribunal dismissed the Revenue's appeal, affirming that the disallowance of interest expenditure amounting to Rs. 65,29,462 for the assessment year 2008-2009 was not warranted. en-us Wed, 13 Aug 2014 00:00:00 +0530 Thu, 26 Oct 2017 08:33:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195322 The Tribunal upheld the CIT(A)'s decision, ruling that the interest paid by the assessee on borrowed funds for acquiring shares should be considered as part of the cost of shares and allowed as a deduction in computing short-term capital gains. The Tribunal dismissed the Revenue's appeal, affirming that the disallowance of interest expenditure amounting to Rs. 65,29,462 for the assessment year 2008-2009 was not warranted. Case-Laws Income Tax Wed, 13 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195322