No Interest Cost cannot be claimed as Business Expenditure when borrowed amount utilized for making Investment in Shares: ITAT directs to recompute STCG from Shares [Read Order]

By Aparna. M - On March 28, 2024 5:05 pm - 2 mins read

ITAT Mumbai - ITAT - Income Tax - ITAT ruling on interest cost - Business expenditure and shares investment - Short Term Capital Gains - Taxscan

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) while making directions to recompute the Short Term Capital Gain( STCG ), held that interest cost can not be claimed as business expenditure when the borrowed amount was utilized for making investment in shares. The Assessee JPR Investments and Trading Private Limited, after…

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