https://www.taxtmi.com/caselaws?id=258948 The HC held that interest income classified under Section 56 as income from other sources is taxable only after allowing deductions for proportionate costs and administrative expenses incurred in earning that income under Section 57(3). The Tribunal erred in disallowing such deductions. The appeals were allowed in part, and the matter was remanded to the adjudicating authority to quantify and allow the appropriate deductions before passing fresh orders. en-us Wed, 25 Mar 2015 00:00:00 +0530 Sat, 26 Jul 2025 13:14:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258948 The HC held that interest income classified under Section 56 as income from other sources is taxable only after allowing deductions for proportionate costs and administrative expenses incurred in earning that income under Section 57(3). The Tribunal erred in disallowing such deductions. The appeals were allowed in part, and the matter was remanded to the adjudicating authority to quantify and allow the appropriate deductions before passing fresh orders. Case-Laws Income Tax Wed, 25 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258948