https://www.taxtmi.com/caselaws?id=58756 The Appellate Tribunal ITAT BOMBAY-C partially allowed the appeals regarding the deduction of debts incurred in relation to the acquisition of shares for the assessment years 1973-74, 1974-75, and 1975-76. The Tribunal upheld the deduction of debts for the first two years based on the CBDT circular and legal precedents. However, for the assessment year 1975-76, the deduction was limited to the extent that the debt exceeded the value of the shares after statutory exemption. en-us Thu, 22 Dec 1983 00:00:00 +0530 Tue, 21 Dec 2010 18:10:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58756 The Appellate Tribunal ITAT BOMBAY-C partially allowed the appeals regarding the deduction of debts incurred in relation to the acquisition of shares for the assessment years 1973-74, 1974-75, and 1975-76. The Tribunal upheld the deduction of debts for the first two years based on the CBDT circular and legal precedents. However, for the assessment year 1975-76, the deduction was limited to the extent that the debt exceeded the value of the shares after statutory exemption. Case-Laws Wealth-tax Thu, 22 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58756