https://www.taxtmi.com/caselaws?id=785295 Broken period interest paid on purchase of securities held as stock-in-trade is treated as an allowable business expenditure and deductible in computing taxable income; the Tribunals conclusion that the securities were purchased to be held as stock-in-trade therefore permits deduction. A delay of 959 days in filing the Special Leave Petition was not satisfactorily explained and the petition was not entertained, with the appellate forum declining to interfere with the High Courts order. The High Courts prior decision affirming the deductibility was applied by the Tribunal, yielding no change on merits. en-us Mon, 19 Jan 2026 00:00:00 +0530 Wed, 21 Jan 2026 08:41:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785295 Broken period interest paid on purchase of securities held as stock-in-trade is treated as an allowable business expenditure and deductible in computing taxable income; the Tribunals conclusion that the securities were purchased to be held as stock-in-trade therefore permits deduction. A delay of 959 days in filing the Special Leave Petition was not satisfactorily explained and the petition was not entertained, with the appellate forum declining to interfere with the High Courts order. The High Courts prior decision affirming the deductibility was applied by the Tribunal, yielding no change on merits. Case-Laws Income Tax Mon, 19 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785295