https://www.taxtmi.com/caselaws?id=66909 The Tribunal ruled that netting between interest income and interest paid on borrowed funds is not permissible when the interest income is considered under the head "income from other sources." The interest income earned on advances was correctly treated as income from other sources, and the assessee was not entitled to netting. The decision was against the assessee, concluding that deductions under the specific provisions of the Income-tax Act were allowable only if falling within the enumerated clauses. en-us Mon, 27 Mar 2000 00:00:00 +0530 Tue, 08 Mar 2011 11:08:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66909 The Tribunal ruled that netting between interest income and interest paid on borrowed funds is not permissible when the interest income is considered under the head "income from other sources." The interest income earned on advances was correctly treated as income from other sources, and the assessee was not entitled to netting. The decision was against the assessee, concluding that deductions under the specific provisions of the Income-tax Act were allowable only if falling within the enumerated clauses. Case-Laws Income Tax Mon, 27 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66909