https://www.taxtmi.com/caselaws?id=15579 The Court ruled in favor of the assessee, holding that the Tribunal was correct in canceling the rectification order of the Assessing Officer. The Court found that the interest paid for the broken period on the purchase of securities is an allowable deduction, considering it as business income. The dissenting opinion argued for a different assessment method, but the majority upheld the Tribunal's decision. The Court concluded in favor of the assessee, determining that the rectification order was rightfully annulled. en-us Mon, 01 Mar 1999 00:00:00 +0530 Wed, 26 Aug 2009 11:19:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15579 The Court ruled in favor of the assessee, holding that the Tribunal was correct in canceling the rectification order of the Assessing Officer. The Court found that the interest paid for the broken period on the purchase of securities is an allowable deduction, considering it as business income. The dissenting opinion argued for a different assessment method, but the majority upheld the Tribunal's decision. The Court concluded in favor of the assessee, determining that the rectification order was rightfully annulled. Case-Laws Income Tax Mon, 01 Mar 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15579