Sec. 36(1) & 57 of Income Tax Act, 1961 - Income from other sources - The Tax appeal of the assessee is directed against the order of the Tribunal in holding that interest paid by the assessee on borrowed capital to the extent it was utilised for purchasing shares was deductible neither under Section 36(1)(iii) nor under Section 57(iii) of the Act. Appeal of the assessee allowed by holddin that ”the assessee is entitled to deduction of interest paid on borrowed capital to the extent it was utilized for purchasing shares of IHFC Ltd under Section 36(1)(iii) of the Act, 1961“. - B. NANJI & CO. V/s DEPUTY CIT - [2020] 425 ITR 286 (GUJ)