https://www.taxtmi.com/caselaws?id=121079 The Tribunal dismissed the appeal, affirming that there was no direct nexus between the interest earned from the advance to M/s. Capricon Shopping Complex and the interest paid on the bank loan. It was held that the interest income was correctly classified under "Income from other sources," and the interest paid on the loan for export business could not be offset against this income. The claim for deduction under section 57 was disallowed, following the precedent set in the case of Dr. V.P. Gopinathan by the Apex Court. en-us Wed, 28 Feb 2007 00:00:00 +0530 Thu, 26 Jul 2012 14:11:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121079 The Tribunal dismissed the appeal, affirming that there was no direct nexus between the interest earned from the advance to M/s. Capricon Shopping Complex and the interest paid on the bank loan. It was held that the interest income was correctly classified under "Income from other sources," and the interest paid on the loan for export business could not be offset against this income. The claim for deduction under section 57 was disallowed, following the precedent set in the case of Dr. V.P. Gopinathan by the Apex Court. Case-Laws Income Tax Wed, 28 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121079