Held that the Interest paid on capital borrowed for acquisition of stock-in-trade is deductible irrespective of the fact that the said stock-in trade was sold or not during the relevant financial year.(AY. 2015-16)
ITO v. ASSR Infrastructure (P) Ltd. (2022) 217 TTJ 24 (UO) (Chennai)(Trib)
S. 36(1)(iii) : Interest on borrowed capital-Stock in trade-Allowable as deduction.