https://www.taxtmi.com/caselaws?id=58773 The Tribunal held that interest paid on the purchase of securities by a bank is deductible under the IT Act as it forms part of the cost and is deductible in computing profits from the sale of securities. The original order allowing the deduction was upheld, with the Tribunal finding no mistake apparent from the record warranting rectification under section 154 of the IT Act. The appeal of the assessee was allowed, setting aside the orders of the departmental authorities. en-us Thu, 27 Mar 1986 00:00:00 +0530 Tue, 21 Dec 2010 18:54:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58773 The Tribunal held that interest paid on the purchase of securities by a bank is deductible under the IT Act as it forms part of the cost and is deductible in computing profits from the sale of securities. The original order allowing the deduction was upheld, with the Tribunal finding no mistake apparent from the record warranting rectification under section 154 of the IT Act. The appeal of the assessee was allowed, setting aside the orders of the departmental authorities. Case-Laws Income Tax Thu, 27 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58773