Home › Income-Tax Act › CIT v. State Bank of Hyderabad (No. 2) (2024)469 ITR 325 (Telangana)(HC) Editorial : SLP of Revenue is dismissed, CIT v. State Bank of Hyderabad (2024) 469 ITR 332 (SC)

CIT v. State Bank of Hyderabad (No. 2) (2024)469 ITR 325 (Telangana)(HC) Editorial : SLP of Revenue is dismissed, CIT v. State Bank of Hyderabad (2024) 469 ITR 332 (SC)

S.37(1): Business expenditure-Bank-Interest-Capital or revenue-Broken period interest paid on purchase of securities-Allowable as revenue expenditure.[S. 260A]

Dismissing the appeal of the Revenue the Court held that broken period interest paid on purchase of securities is  allowable as revenue   expenditure. Followed,  CIT v. State Bank of Hyderabad (No. 1) (2024) 469 ITR 316 (Telengana)(HC).(AY.1997-98)