https://www.taxtmi.com/caselaws?id=771153 The Punjab and Haryana HC ruled in favor of the appellant regarding deduction under section 36(1)(iii) for interest paid on borrowed money used to purchase shares. The Court held that shares of a group company should be treated as stock-in-trade rather than investment, based on the appellant's demonstrated intention to trade and pattern of selling shares at different intervals. The Court concluded the appellant's business intention was evident from the record, allowing the interest deduction claim against the revenue department. en-us Tue, 13 May 2025 00:00:00 +0530 Tue, 20 May 2025 14:31:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771153 The Punjab and Haryana HC ruled in favor of the appellant regarding deduction under section 36(1)(iii) for interest paid on borrowed money used to purchase shares. The Court held that shares of a group company should be treated as stock-in-trade rather than investment, based on the appellant's demonstrated intention to trade and pattern of selling shares at different intervals. The Court concluded the appellant's business intention was evident from the record, allowing the interest deduction claim against the revenue department. Case-Laws Income Tax Tue, 13 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771153