Allowing the appeal the Tribunal held that since assessee was an investment company, interest expenses directly attributable to investments made by it was to be allowed as deduction. (AY.2014-15)
Addlife Investments (P.) Ltd. v. DCIT (2021) 187 ITD 591/201 DTR 145 (Ahd.) (Trib.)
S. 36(1)(iii) : Interest on borrowed capital-Business of investment in shares-Interest paid is allowable as deduction.