https://www.taxtmi.com/caselaws?id=30850 The court upheld that the expenditure for issuing debentures falls under section 35D, to be spread over ten years. Interest on direct borrowings for investment in securities is not allowable as business expenditure, aligning with section 14A. The court dismissed both parties' appeals, affirming the Tribunal's decisions on these matters. en-us Tue, 22 Aug 2006 00:00:00 +0530 Fri, 26 Aug 2016 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30850 The court upheld that the expenditure for issuing debentures falls under section 35D, to be spread over ten years. Interest on direct borrowings for investment in securities is not allowable as business expenditure, aligning with section 14A. The court dismissed both parties' appeals, affirming the Tribunal's decisions on these matters. Case-Laws Income Tax Tue, 22 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30850