{"id":51670,"date":"2025-03-04T11:00:05","date_gmt":"2025-03-04T05:30:05","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-standard-chartered-bank-2024469-itr-408-sc-editorial-cit-v-standard-chartered-bank-itr-no-87-of-1996-dt-16-7-2003-kerhc-2\/"},"modified":"2025-08-11T16:33:37","modified_gmt":"2025-08-11T11:03:37","slug":"cit-v-standard-chartered-bank-2024469-itr-408-sc-editorial-cit-v-standard-chartered-bank-itr-no-87-of-1996-dt-16-7-2003-kerhc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-standard-chartered-bank-2024469-itr-408-sc-editorial-cit-v-standard-chartered-bank-itr-no-87-of-1996-dt-16-7-2003-kerhc-2\/","title":{"rendered":"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 ."},"content":{"rendered":"<p>Held that interest paid for the broken period on purchase of Government securities is allowable as deduction. Followed CIT v. Citi Bank N.A (No. 1 (2024) 469 ITR 273 (SC)\u00a0 <em>\u00a0(<\/em>AY.1985-86, 1986-87)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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.  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-51670","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dro","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=51670"}],"version-history":[{"count":4,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51670\/revisions"}],"predecessor-version":[{"id":55821,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51670\/revisions\/55821"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=51670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=51670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=51670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}