https://www.taxtmi.com/caselaws?id=429490 Income from sale of shares and units was treated as capital gains where the facts showed investment character, so the carried-forward capital loss could be set off only against capital gains and the business-income view was rejected. Deduction under section 57(iii) for interest-related expenditure was allowed only to the extent of the balance claim after excluding the portion linked to tax deduction default. A buyback payment to a Singapore resident shareholder was held not to attract withholding under section 195 on the treaty position and the timing of the payment, so disallowance under section 40(a)(ia) was deleted. en-us Thu, 27 Oct 2022 00:00:00 +0530 Sat, 29 Oct 2022 09:19:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429490 Income from sale of shares and units was treated as capital gains where the facts showed investment character, so the carried-forward capital loss could be set off only against capital gains and the business-income view was rejected. Deduction under section 57(iii) for interest-related expenditure was allowed only to the extent of the balance claim after excluding the portion linked to tax deduction default. A buyback payment to a Singapore resident shareholder was held not to attract withholding under section 195 on the treaty position and the timing of the payment, so disallowance under section 40(a)(ia) was deleted. Case-Laws Income Tax Thu, 27 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429490