[aaykarbhavan] Interest on borrowing used for investment in shares was deductible if such shares didn’t yield any dividend

 

Interest on borrowing used for investment in shares was deductible if such shares didn't yield any dividend

May 27, 2014[2014] 45 taxmann.com 120 (Calcutta)

IT : Interest paid on money borrowed for investment even in shares which had not yet yielded any dividend, was admissible under section 57(iii)

IT : Where director had no opportunity to use car that was hired out, depreciation on account of director's personal use could not be disallowed

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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