https://www.taxtmi.com/caselaws?id=763764 High Court allowed the petition, holding that broken-period interest paid on purchase of HTM securities is deductible as a matter of law, following binding Supreme Court authority and recent HC precedent. The Court found no legal basis for reopening assessment under section 147 or for issuing the impugned notice under section 148A(d), and concluded the proceedings against the taxpayer were unwarranted. The petition was allowed and the revenue's action set aside. en-us Mon, 02 Dec 2024 00:00:00 +0530 Tue, 09 Sep 2025 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763764 High Court allowed the petition, holding that broken-period interest paid on purchase of HTM securities is deductible as a matter of law, following binding Supreme Court authority and recent HC precedent. The Court found no legal basis for reopening assessment under section 147 or for issuing the impugned notice under section 148A(d), and concluded the proceedings against the taxpayer were unwarranted. The petition was allowed and the revenue's action set aside. Case-Laws Income Tax Mon, 02 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763764