https://www.taxtmi.com/caselaws?id=278922 The Tribunal allowed the deduction of interest expenditure for acquiring shares and securities, directing the AO to verify calculations. It reduced estimated personal household expenses by 50% due to shared family expenses. The Tribunal upheld interest levy under Sections 234A, 234B, and 234C but directed a recalculation considering TDS. Interest expenses on shares and securities were to be capitalized. Unexplained bank account entries were sent back to the AO for review. The Tribunal did not address the disallowance of audit fees. Overall, the Tribunal's decision favored the assessees by applying consistent principles and precedents. en-us Wed, 27 Dec 2017 00:00:00 +0530 Mon, 25 Feb 2019 23:53:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278922 The Tribunal allowed the deduction of interest expenditure for acquiring shares and securities, directing the AO to verify calculations. It reduced estimated personal household expenses by 50% due to shared family expenses. The Tribunal upheld interest levy under Sections 234A, 234B, and 234C but directed a recalculation considering TDS. Interest expenses on shares and securities were to be capitalized. Unexplained bank account entries were sent back to the AO for review. The Tribunal did not address the disallowance of audit fees. Overall, the Tribunal's decision favored the assessees by applying consistent principles and precedents. Case-Laws Income Tax Wed, 27 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278922