https://www.taxtmi.com/caselaws?id=290458 Interest expenditure was treated as deductible only to the extent of a direct nexus with interest earned on term deposits, so the set-off was allowed only up to the income actually received. Interest attributable to exempt investments was disallowed under section 14A, and the Tribunal sustained the view that such disallowed interest could be capitalised as part of the cost of acquisition of the relevant shares for capital gains computation. The note thus applies nexus-based deduction principles and the treatment of disallowed investment-related interest in share cost determination. en-us Mon, 16 Mar 2020 00:00:00 +0530 Sun, 27 Sep 2020 12:49:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290458 Interest expenditure was treated as deductible only to the extent of a direct nexus with interest earned on term deposits, so the set-off was allowed only up to the income actually received. Interest attributable to exempt investments was disallowed under section 14A, and the Tribunal sustained the view that such disallowed interest could be capitalised as part of the cost of acquisition of the relevant shares for capital gains computation. The note thus applies nexus-based deduction principles and the treatment of disallowed investment-related interest in share cost determination. Case-Laws Income Tax Mon, 16 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290458