Scheme of business arrangement to acquire shares of another Co. can’t be termed as business of dealing in securities

INCOME TAX: Where assessee company claimed expenditure in respect of professional charges paid for investment advisory services and interest expenditure paid towards capital borrowed, since assessee was not carrying on any business during year and, thus, said professional fees was not paid in course of business activity and, further, interest expenditure was also not with respect to capital borrowed by assessee for purpose of business, such professional fees and interest paid could not be allowe

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