https://www.taxtmi.com/caselaws?id=353506 Reliable evidence, including an arbitral award arising from a dispute with a stock broker, was treated as sufficient to establish the assessee's share trading loss, and the deduction was allowed. Interest paid on margin funding was also accepted as revenue expenditure because its character was not controlled by the fact that it had been capitalised in the books; the accounting entry could not override the true nature of the outlay. The analysis therefore supports deduction of the trading loss and allowance of the interest claim, with the remaining grounds not surviving for adjudication. en-us Wed, 03 Jan 2018 00:00:00 +0530 Fri, 05 Jan 2018 09:26:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353506 Reliable evidence, including an arbitral award arising from a dispute with a stock broker, was treated as sufficient to establish the assessee's share trading loss, and the deduction was allowed. Interest paid on margin funding was also accepted as revenue expenditure because its character was not controlled by the fact that it had been capitalised in the books; the accounting entry could not override the true nature of the outlay. The analysis therefore supports deduction of the trading loss and allowance of the interest claim, with the remaining grounds not surviving for adjudication. Case-Laws Income Tax Wed, 03 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353506