Interest on Loan to acquire share allowable if Assessee engaged in share trading

HIGH COURT OF ANDHRA PRADESH Commissioner of Income tax Versus Peninsular Investment Ltd. I.T.T.A. NO. 309 OF 2012 SEPTEMBER 27, 2012 JUDGMENT M.S. Ramachandra Rao, J. – This appeal is filed by the Revenue under Section 260-A of the Income Tax Act, 1961 (for short “the Act”) challenging the order dated 31-07-2008 in I.T.A.No.506/Hyd/2007 of the Income Tax Appellate Tribunal, Bench “A”, Hyderabad. 2. The issues in this appeal are: (a)  whether the decision of the assessing officer in computing the income of the assessee for the assessment year 200...