https://www.taxtmi.com/caselaws?id=38495 The High Court held that interest paid on loans for purchasing shares is deductible as an expense, regardless of whether the shares yield dividends. The Court referenced past judgments and provisions of the Income-tax Act to support its decision. The Tribunal's decision allowing the deduction claim was upheld, emphasizing that interest on borrowed money for share purchase qualifies as a deduction. Justice Panda concurred with the judgment. en-us Wed, 19 Nov 1975 00:00:00 +0530 Tue, 06 Apr 2010 17:06:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38495 The High Court held that interest paid on loans for purchasing shares is deductible as an expense, regardless of whether the shares yield dividends. The Court referenced past judgments and provisions of the Income-tax Act to support its decision. The Tribunal's decision allowing the deduction claim was upheld, emphasizing that interest on borrowed money for share purchase qualifies as a deduction. Justice Panda concurred with the judgment. Case-Laws Income Tax Wed, 19 Nov 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38495