Question 1

What is the leading case on Section 55(2)(b)(iii)?

Accepted Answer

CIT v. Mythreyi Pai (152 ITR 247) is the decision most relied on for Section 55(2)(b)(iii), cited in 44 judgments on BharatTax. Expenditure incurred towards the purchase of shares is a capital expenditure and therefore, interest expenditure incurred on such purchases is not eligible for deduction under Section 36(1)(iii) of the Income Tax Act.

Question 2

Which cases are most cited on Section 55(2)(b)(iii)?

Accepted Answer

CIT v. Mythreyi Pai (152 ITR 247) — 44 citing judgments.

Question 3

How many judgments discuss Section 55(2)(b)(iii)?

Accepted Answer

BharatTax indexes 1 ITAT, High Court and Supreme Court judgments that discuss Section 55(2)(b)(iii) (Section 55(2)(b)(iii)).

“Section 55(2)(b)(iii)”

Leading authorities on Section 55(2)(b)(iii)

Judgments citing Section 55(2)(b)(iii)

Tata Sons Ltd, Mumbai vs. CIT 2, Mumbai