https://www.taxtmi.com/caselaws?id=247544 The Tribunal partly allowed the assessee's appeal, directing the AO to re-examine the nexus between interest earned and interest paid and to allow the set-off of business loss. It held that the assessee's business was set up, and the expenses incurred were for propagating the business. The Tribunal also instructed the AO to assess the purpose of deposits and the utilization of funds related to interest income. en-us Fri, 25 Apr 2014 00:00:00 +0530 Thu, 15 May 2014 08:08:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247544 The Tribunal partly allowed the assessee's appeal, directing the AO to re-examine the nexus between interest earned and interest paid and to allow the set-off of business loss. It held that the assessee's business was set up, and the expenses incurred were for propagating the business. The Tribunal also instructed the AO to assess the purpose of deposits and the utilization of funds related to interest income. Case-Laws Income Tax Fri, 25 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247544