https://www.taxtmi.com/caselaws?id=7014 Income included in the assessee's total under a provision attributing another's income is treated as income from other sources for the assessee, and expenditure incurred solely for the immediate purpose of making or earning that included income is deductible; the test of "purpose" is the immediate object at the time of the transaction. Relief is therefore limited to the proportion of total interest in the relevant year that can be attributed to the original sum withdrawn and deposited to earn interest, and that attributable amount must be ascertained and set off against the interest income. en-us Mon, 06 Mar 1967 00:00:00 +0530 Sat, 07 Feb 2009 19:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7014 Income included in the assessee's total under a provision attributing another's income is treated as income from other sources for the assessee, and expenditure incurred solely for the immediate purpose of making or earning that included income is deductible; the test of "purpose" is the immediate object at the time of the transaction. Relief is therefore limited to the proportion of total interest in the relevant year that can be attributed to the original sum withdrawn and deposited to earn interest, and that attributable amount must be ascertained and set off against the interest income. Case-Laws Income Tax Mon, 06 Mar 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7014