Court :
Tribunal
Brief :
Held that interest paid by the investment company on funds borrowed for purchase of shares, irrespective of the fact whether such shares were to be held as stock in trade or investment or for acquiring controlling interest in other companies, was deductible u/s 36(1)(iii).
Citation :
Srishti Securities (P). Ltd. Vs. Jt. CIT
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
V.K. Ranjan & Co(Chartered Accountants)
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B.Com
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Shyam Joshi & Associates
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