https://www.taxtmi.com/caselaws?id=195722 The Tribunal held that the interest paid on borrowed funds for acquiring shares should be considered as the cost of acquisition for computing short term capital loss. The Tribunal dismissed the Revenue's appeal, affirming that the entire interest paid should be allowed as a deduction. Additionally, the Tribunal upheld the disallowance of claimed interest expenditure due to lack of supporting evidence. Both the department's appeal and the assessee's cross objection were dismissed in the judgment. en-us Fri, 16 Mar 2012 00:00:00 +0530 Wed, 08 Nov 2017 17:42:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195722 The Tribunal held that the interest paid on borrowed funds for acquiring shares should be considered as the cost of acquisition for computing short term capital loss. The Tribunal dismissed the Revenue's appeal, affirming that the entire interest paid should be allowed as a deduction. Additionally, the Tribunal upheld the disallowance of claimed interest expenditure due to lack of supporting evidence. Both the department's appeal and the assessee's cross objection were dismissed in the judgment. Case-Laws Income Tax Fri, 16 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195722