https://www.taxtmi.com/caselaws?id=59536 The Tribunal partially allowed the appeal in ITA No. 718 and fully in ITA No. 3494, directing the AO to permit the deduction under section 36(1)(iii)/37 for interest on borrowings used to acquire Trumac shares and to allow the deduction under section 80M on gross dividend income from those shares. The issues concerning section 80HHC and depreciation were resolved against the assessee, with the Tribunal noting potential retrospective amendments and emphasizing the independence of penalty proceedings. en-us Fri, 11 Nov 2005 00:00:00 +0530 Wed, 10 Apr 2024 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59536 The Tribunal partially allowed the appeal in ITA No. 718 and fully in ITA No. 3494, directing the AO to permit the deduction under section 36(1)(iii)/37 for interest on borrowings used to acquire Trumac shares and to allow the deduction under section 80M on gross dividend income from those shares. The issues concerning section 80HHC and depreciation were resolved against the assessee, with the Tribunal noting potential retrospective amendments and emphasizing the independence of penalty proceedings. Case-Laws Income Tax Fri, 11 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59536