https://www.taxtmi.com/caselaws?id=37798 Interest paid to share-brokers for deferred delivery of shares held as stock-in-trade was revenue expenditure deductible in computing business income. The payment was made to preserve an existing profit-making arrangement and secure the very stock-in-trade, not to acquire a source of supply or any capital asset of enduring character. Because the outlay was integrally connected with the carrying on of business and formed part of the profit-earning process, it was allowable as business expenditure. en-us Wed, 18 Jan 1978 00:00:00 +0530 Thu, 01 Apr 2010 11:49:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37798 Interest paid to share-brokers for deferred delivery of shares held as stock-in-trade was revenue expenditure deductible in computing business income. The payment was made to preserve an existing profit-making arrangement and secure the very stock-in-trade, not to acquire a source of supply or any capital asset of enduring character. Because the outlay was integrally connected with the carrying on of business and formed part of the profit-earning process, it was allowable as business expenditure. Case-Laws Income Tax Wed, 18 Jan 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37798