{"id":64753,"date":"2026-10-05T16:04:12","date_gmt":"2026-10-05T10:34:12","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-hdfc-bank-ltd-2025-173-taxmann-com-579-bom-hc-editorial-slp-of-revenue-dismissed-pcit-v-hdfc-bank-ltd-2025-304-taxman-606-sc\/"},"modified":"2026-10-05T16:04:12","modified_gmt":"2026-10-05T10:34:12","slug":"pcit-v-hdfc-bank-ltd-2025-173-taxmann-com-579-bom-hc-editorial-slp-of-revenue-dismissed-pcit-v-hdfc-bank-ltd-2025-304-taxman-606-sc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-hdfc-bank-ltd-2025-173-taxmann-com-579-bom-hc-editorial-slp-of-revenue-dismissed-pcit-v-hdfc-bank-ltd-2025-304-taxman-606-sc\/","title":{"rendered":"PCIT v. HDFC Bank Ltd. [2025] 173 taxmann.com 579 (Bom) (HC) Editorial: SLP of revenue dismissed, PCIT v. HDFC Bank Ltd. [2025] 304 Taxman 606 (SC)"},"content":{"rendered":"<p>Where the assessee-bank purchased securities to hold them as stock-in-trade and claimed deduction in respect of broken period interest paid on purchase of such securities, the High Court held that the interest paid on such securities was allowable as a deduction under section 37(1). (AY. 2010-11).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1): Business expenditure-Broken period interest-Securities held as stock-in-trade-Deduction allowable.[S.145, 260A] <\/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-64753","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gQp","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64753","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=64753"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64753\/revisions"}],"predecessor-version":[{"id":64754,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64753\/revisions\/64754"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=64753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=64753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=64753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}