2020 (11) TMI 945

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....than, SSC assisted by Mrs.V.Pushpa, SC For the Respondent : Mr.R.Vijayaraghavan for M/s.Subbaraya Aiyer Padmanabhan JUDGMENT T.S.SIVAGNANAM, J. This appeal has been filed by the assessee under Section 260A of the Income Tax Act, 1961 ('the Act' for brevity) challenging the order dated 29.1.2016 made in I.T.A.No.1209/Mds/2014 on the file of the Income Tax Appellate Tribunal, Che....

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....e grounds raised herein, the Tribunal was right in holding that the loss on sale of securities of (held to maturity) category is allowable as a deduction?" 3. We have heard Mr.M.Swaminathan, learned Senior Standing Counsel assisted by Mrs.V.Pushpa, learned Standing Counsel appearing for the Revenue and Mr.R.Vijayaraghavan,, learned counsel appearing on behalf of the respondent - assessee. 4.....

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....ted:- 'Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is right, in law, in holding that the broken period interest is to be treated as revenue expenditure?' 6. Both parties would agree that the question is a substantial question of law that merits consideration. Accordingly, we admit the same. The finding of fact is to the ef....