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        Case ID :
        Income Tax

        Professional income V/s Salary income - When an assessee insists...

        Interest Expenses Not Deductible from Salary When Unrelated to Services Rendered; Interest-Free Loans to Employer Not Justified.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Professional income V/s Salary income - When an assessee insists that he is rendering professional / technical services to a company, the burden is on him to prove the same. - Only such expenditure which has been incurred wholly and exclusively to earn a particular income is allowable as a deduction from such income. In the instant case, there is no relation whatsoever between the interest expenditure from a mortgaged loan and the payment received for rendering certain services. Advancing interest free loans to the employer company cannot be a ground for claiming deduction of interest expenditure from the salary income received from it. - AT
                                Note: It is a system-generated summary and is for quick reference only.
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