Short term capital gain

Sorry, for interruption:

As per that query: Ashwin Kumar was disturbed because of double deduction taken by assessee under income from HP (section 24b) and under capital gains head......... and such reply was given by someone else.... He asked for clarification

At that time quoting the case law........... I states that it is disputable issue.......in similar such case the same was disallowed by Karnataka High Court........ So, it is not law.

And such disparities exist in many such cases during interpretations of laws/acts, which remain always disputable, and AO would not allow such deductions. (Quote: "One should take into consideration the cost of litigation and the benefit availed").

With above reference: I would suggest all my dear friends to follow the act as per natural justice...... and do not get confused with such case laws.

In this particular case it is neither purchase price nor cost of improvement !!!

Refer: visitor/detail_article.asp?ArticleID=976

Thanks Dhirajlal Sir.

Ashwin Kumar Sir, the query was asked for Capatial Gain on Share & not on immovable property i.e Flat, House

In my opinion the interest cannot be claimed. As far as I understood the interest  paid is of revenue nature and the cost of acquisition made on account of loan taken is capital natured. the capital gain whether LTCG or STCG arises arises simply to say Capital money flowed in on account of sale minus Capital money flowed out on account of purchased made and the revenue natured incomes or revenue natured expenses are not to be clubbed with them.