Case Law Details
Case Name : Panatone Finvest Ltd. Vs DCIT
Appeal Number : 2009-TIOL-717-ITAT-Mum
Date of Judgement/Order : 05/10/2009
Related Assessment Year :
Courts :
All ITAT ITAT Mumbai
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This article summarizes a recent ruling of the Mumbai Income Tax Appellate Tribunal (ITAT) in the case of Panatone Finvest Ltd.(Taxpayer) [2009-TIOL-717-ITAT-MUM]. The Taxpayer incurred interest expenditure on the funds borrowed for investing in shares of a company, with a view to acquire controlling interest. The
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