Tribunal held that borrowed funds used for investment in shares for business purposes is allowable as deduction. ( AY.2016-17)
Tirupati Procon Pvt. Ltd. v. ITO (2021) 85 ITR 76 (SN)(Delhi) (Trib)
S. 36(1)(iii) :Interest on borrowed capital -Borrowed funds used for investment in shares for business purposes —Allowable as deduction [ S.37 (1) ]