https://www.taxtmi.com/caselaws?id=793490 Interest expenditure under section 57(iii) is deductible only to the extent the borrowing is directly and demonstrably linked to earning the relevant interest income; the balance remains disallowable. A transfer of shares through a demat account can constitute a transfer for capital gains purposes where control and disposal rights pass to the transferee, and an appellate authority may examine an alternate claim under section 54F even if it was not made in the return, if supported by the record. Loss from F&O trading may also be set off under sections 70 and 71 when otherwise allowable on the material already on record, and the claim is not barred merely because it was first raised in appeal. en-us Mon, 15 Jun 2026 00:00:00 +0530 Wed, 17 Jun 2026 07:46:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793490 Interest expenditure under section 57(iii) is deductible only to the extent the borrowing is directly and demonstrably linked to earning the relevant interest income; the balance remains disallowable. A transfer of shares through a demat account can constitute a transfer for capital gains purposes where control and disposal rights pass to the transferee, and an appellate authority may examine an alternate claim under section 54F even if it was not made in the return, if supported by the record. Loss from F&O trading may also be set off under sections 70 and 71 when otherwise allowable on the material already on record, and the claim is not barred merely because it was first raised in appeal. Case-Laws Income Tax Mon, 15 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793490