https://www.taxtmi.com/caselaws?id=32434 The High Court upheld the Tribunal's decision in favor of the assessee, dismissing the Revenue's appeal regarding the disallowance of interest claimed as a deduction under Section 36(1)(iii) of the Income Tax Act for share trading business. The courts found that the assessee was actively trading in shares and had not used borrowed funds for share investments, as alleged by the Revenue. As a result, the appeal was dismissed, with the Court determining that no substantial question of law arose for consideration. en-us Mon, 09 Feb 2009 00:00:00 +0530 Wed, 18 Feb 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32434 The High Court upheld the Tribunal's decision in favor of the assessee, dismissing the Revenue's appeal regarding the disallowance of interest claimed as a deduction under Section 36(1)(iii) of the Income Tax Act for share trading business. The courts found that the assessee was actively trading in shares and had not used borrowed funds for share investments, as alleged by the Revenue. As a result, the appeal was dismissed, with the Court determining that no substantial question of law arose for consideration. Case-Laws Income Tax Mon, 09 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32434