https://www.taxtmi.com/highlights?id=63828 Deduction of interest u/s. 36(1)(iii) - loan amount for making investment in shares - During the year under consideration, the Assessee utilized the loan amount for making investment in shares in ordinary course and eventually earned dividend or capital gains. It is also not the case of the Revenue department that the Assessee had no commercial expediency for making the investments while using the borrowed funds. Having regards to the nature of activities the Assessee is engaged in, there is no justification for disallowance of interest u/s. 36(1)(iii) of the Act. - AT en-us Thu, 02 Jun 2022 15:15:12 +0530 Thu, 02 Jun 2022 15:15:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=63828 Deduction of interest u/s. 36(1)(iii) - loan amount for making investment in shares - During the year under consideration, the Assessee utilized the loan amount for making investment in shares in ordinary course and eventually earned dividend or capital gains. It is also not the case of the Revenue department that the Assessee had no commercial expediency for making the investments while using the borrowed funds. Having regards to the nature of activities the Assessee is engaged in, there is no justification for disallowance of interest u/s. 36(1)(iii) of the Act. - AT Highlights Income Tax Thu, 02 Jun 2022 15:15:12 +0530 https://www.taxtmi.com/highlights?id=63828