https://www.taxtmi.com/caselaws?id=460332 In 2008 (8) TMI 1043 - SC, the SC ruled in favor of the assessee, determining that deductible expenses from interest on securities for a banking company under Section 20(1)(i) of the Income Tax Act, 1961, are not constrained by the limitations of Sections 40A(3), 40A(5), and 44C. The appeals were dismissed, and each party was instructed to bear its own costs, aligning with the reasoning in a prior decision in Civil Appeal No. 1533 of 2006. en-us Tue, 12 Aug 2008 00:00:00 +0530 Mon, 20 Jan 2025 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460332 In 2008 (8) TMI 1043 - SC, the SC ruled in favor of the assessee, determining that deductible expenses from interest on securities for a banking company under Section 20(1)(i) of the Income Tax Act, 1961, are not constrained by the limitations of Sections 40A(3), 40A(5), and 44C. The appeals were dismissed, and each party was instructed to bear its own costs, aligning with the reasoning in a prior decision in Civil Appeal No. 1533 of 2006. Case-Laws Income Tax Tue, 12 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460332