https://www.taxtmi.com/caselaws?id=262362 The High Court upheld the Tribunal's decision to disallow the deduction claimed by the assessee for interest and lease rentals written off. The Court ruled that the provisions of Section 57(iii) were not applicable in this case, emphasizing that deductions for income from other sources could only be claimed under Section 57, not Section 36 meant for profits and gains of business or profession. The appeal was dismissed, affirming that the claimed deductions for interest and lease rentals written off could not be sustained under the Income Tax Act. en-us Tue, 21 Jul 2015 00:00:00 +0530 Sat, 08 Aug 2015 06:12:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262362 The High Court upheld the Tribunal's decision to disallow the deduction claimed by the assessee for interest and lease rentals written off. The Court ruled that the provisions of Section 57(iii) were not applicable in this case, emphasizing that deductions for income from other sources could only be claimed under Section 57, not Section 36 meant for profits and gains of business or profession. The appeal was dismissed, affirming that the claimed deductions for interest and lease rentals written off could not be sustained under the Income Tax Act. Case-Laws Income Tax Tue, 21 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262362