https://www.taxtmi.com/caselaws?id=405732 The Tribunal partially allowed the appeal, permitting the deduction of interest amounting to Rs. 12,15,500 from Short Term Capital Gains. The decision was based on establishing a one-to-one nexus between borrowed funds and share investment, considering the interest cost as part of the acquisition cost. The Tribunal emphasized that the interest was not claimed as a revenue expenditure but was capitalized, enhancing the cost of the capital asset. By relying on legal precedents, the Tribunal concluded that the interest should be included in the actual cost of the asset for computing capital gains. en-us Wed, 24 Mar 2021 00:00:00 +0530 Fri, 26 Mar 2021 08:49:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405732 The Tribunal partially allowed the appeal, permitting the deduction of interest amounting to Rs. 12,15,500 from Short Term Capital Gains. The decision was based on establishing a one-to-one nexus between borrowed funds and share investment, considering the interest cost as part of the acquisition cost. The Tribunal emphasized that the interest was not claimed as a revenue expenditure but was capitalized, enhancing the cost of the capital asset. By relying on legal precedents, the Tribunal concluded that the interest should be included in the actual cost of the asset for computing capital gains. Case-Laws Income Tax Wed, 24 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405732