S. 37(1) : Business expenditure-Banks-Government Securities-Purchased after interest date-Interest paid for broken period is not part of purchase price-Allowable as revenue expenditure.
CIT v. Standard Chartered Bank (2024)469 ITR 408 (SC)/Bank of Rajasthan Ltd v.CIT (2024) ITR 280/. 301 Taxman 463 (SC) Editorial : CIT v. Standard Chartered Bank, ITR No. 87 of 1996 dt 16-7-2003 (Ker)(HC)/Decision in CIT( (LTU) v . State Bank of India ( 2020) 428 ITR 316 ( Karn)( HC) , affirmed .