Supreme Court · 2026 INSC 474 · Decided 7 May 2026
L.K. Trust v. Commissioner of Income Tax & ANR.
- Court
- Supreme Court of India
- Citation
- 2026 INSC 474 · [2026] 5 S.C.R. 567
- Case number
- CIVIL APPEAL No. 527/2012
- Decided
- 7 May 2026
- Bench
- J.B. PARDIWALA, UJJAL BHUYAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 36(1)(iii)
Headnote
Issue arose whether the appellant-assessee is entitled to a deduction of Rs.21,74,234/- being the interest paid by it in respect of the loan availed from the Corporation Bank u/s.36(1)(iii) of the Income Tax Act 1961. Income Tax Act 1961 - interest paid in respect of capital borrowed for the purposes of business or profession - Assessee, if eligible for deduction of interest paid to the bank u/s.36(1)(iii) - Assessee borrowed loan from the Bank and paid interest in order to invest the same in its share business -
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)