Held that broken period interest, i.e., interest accrued between last coupon date and date of purchase of government securities deductible as business expenditure. (AY. 2019-20)
Kotak Mahindra Bank Ltd. v. DCIT (2025) 211 ITD 608 (Mum) (Trib.)
S.37(1): Business expenditure-Broken period interest, i.e., interest accrued between last coupon date and date of purchase of government securities-Allowable as business expenditure.
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