https://www.taxtmi.com/caselaws?id=264747 The Court held that the expenditure on interest claimed by the Assessee was allowable under Section 57(iii) of the Income Tax Act, 1961. It directed the deletion of the addition made by the Assessing Officer and allowed the netting of interest paid on the borrowed sum against interest income earned. The impugned order of the ITAT was set aside, and the appeals were allowed with no orders as to costs. en-us Mon, 21 Sep 2015 00:00:00 +0530 Thu, 23 Apr 2026 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264747 The Court held that the expenditure on interest claimed by the Assessee was allowable under Section 57(iii) of the Income Tax Act, 1961. It directed the deletion of the addition made by the Assessing Officer and allowed the netting of interest paid on the borrowed sum against interest income earned. The impugned order of the ITAT was set aside, and the appeals were allowed with no orders as to costs. Case-Laws Income Tax Mon, 21 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264747