{"id":64348,"date":"2026-09-04T17:17:00","date_gmt":"2026-09-04T11:47:00","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-state-bank-of-india-2026-309-taxman-86-sc-editorial-cit-v-state-bank-of-india-2025-170-taxmann-com-719-telenganahc\/"},"modified":"2026-09-04T17:17:00","modified_gmt":"2026-09-04T11:47:00","slug":"cit-v-state-bank-of-india-2026-309-taxman-86-sc-editorial-cit-v-state-bank-of-india-2025-170-taxmann-com-719-telenganahc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-state-bank-of-india-2026-309-taxman-86-sc-editorial-cit-v-state-bank-of-india-2025-170-taxmann-com-719-telenganahc\/","title":{"rendered":"CIT v. State Bank of India (2026) 309 Taxman 86 (SC) Editorial : CIT v. State Bank of India (2025) 170 taxmann.com 719 (Telengana)(HC)"},"content":{"rendered":"<p>Hon\u2019ble Supreme Court upheld the decision of the Hon\u2019ble High Court by observing that securities were purchased by the assessee a banking company as stock-in-trade. Hence, the broken period interest paid on such purchase is allowable as a deduction and does not require capitalisation. SLP dismissed on account of delay\u00a0 958 days as well as on merits.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1): Business expenditure-Broken period interest on purchase of securities-Securities held as stock-in-trade-Interest paid for broken period was allowable as deduction-SLP delay of 959 days-SLP dismissed on account of delay as well as on merits. [Art . 136] <\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-64348","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gJS","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64348","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=64348"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64348\/revisions"}],"predecessor-version":[{"id":64349,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64348\/revisions\/64349"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=64348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=64348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=64348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}