https://www.taxtmi.com/caselaws?id=185534 Interest income assessed under the head "other sources" permitted only the deductions expressly authorised by Section 12 of the Indian Income-tax Act. Expenses for maintaining an establishment for a proposed business, or for keeping a company alive before business commenced, could not be imported from Section 10 or treated as allowable under Section 12. The deductible amount was confined to non-capital expenditure actually incurred solely for earning and collecting the interest income. The Tribunal's allowance was sustained only because it could be supported as an estimate of such actual expenditure, while its broader reliance on establishment expenses was rejected. en-us Fri, 29 May 1953 00:00:00 +0530 Wed, 17 Aug 2016 17:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185534 Interest income assessed under the head "other sources" permitted only the deductions expressly authorised by Section 12 of the Indian Income-tax Act. Expenses for maintaining an establishment for a proposed business, or for keeping a company alive before business commenced, could not be imported from Section 10 or treated as allowable under Section 12. The deductible amount was confined to non-capital expenditure actually incurred solely for earning and collecting the interest income. The Tribunal's allowance was sustained only because it could be supported as an estimate of such actual expenditure, while its broader reliance on establishment expenses was rejected. Case-Laws Income Tax Fri, 29 May 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185534