Assessee borrowed money in form of interest bearing ICDs and used said money was utilised for acquire shares. The Assessing Officer disallowed the interest claim of  on account of indexed interest cost. Tribunal held that since interest paid on borrowings for acquisition of shares was not claimed as deduction under business head, same would fall for deduction under section 48 and would be considered as part of cost of acquisition while computing capital gains on sale of shares. (AY. 2013-14)