M/S PANCHSHEEL TEXTILE MANFAC. & TRAD. vs. C I T AND ANR.
ITA/109/2007HC Punjab & Haryana13 May 2025
Bench: MRS. JUSTICE LISA GILL,MRS. JUSTICE SUDEEPTI SHARMA
56. Consequently,
missible. We are, therefore, of
ustified in making the disallowa
for the purchase of shares of M
as been expressed in regard
le to the borrowing for the purp
y the AO, the issue is remitted to
alculation of actual interest paid
The interest utilized for purchase
urpose of trading is allowable
