2008 (8) TMI 1048

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....en Prakash, Rahul Kaushik, Ms. Shilpa Singh, K. C. Pandey, Sunil Roy, B. V. Balaram Das and B. Krishna Prasad, Advocates, with him) For the Respondent : N. Venkataraman, Senior Advocate, (V. N. Raghupathy, J. D. Mistry, B. D. Damodar, Rustom B. Hathikhanawala, Samir Parekh, Sumil Goel and Miss Divya Sinha, Advocates, for M/s. Parekh & Co., with him) ORDER The assessment year in question i....

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.... holding that interest paid to the sellers for the broken period on purchase of securities should not be considered as part of purchase price, but should be allowed as revenue expenditure in the year of purchase of securities? 3. Whether the High Court was right in law in holding that the interest on sticky advances credited to memorandum account was not taxable?" High Court has answer....