https://www.taxtmi.com/caselaws?id=344646 The appellant challenged the disallowance of expenses against interest income under section 57 of the Income Tax Act, 1961. The Commissioner (Appeals) upheld the disallowance, classifying the interest income as "income from other sources" based on a judgment of the Madras High Court. However, the Tribunal allowed the appeal in part, directing the Assessing Officer to verify and allow the claim of expenses against the business income after following the precedent set by the Madras High Court. en-us Wed, 19 Apr 2017 00:00:00 +0530 Wed, 21 Jun 2017 16:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344646 The appellant challenged the disallowance of expenses against interest income under section 57 of the Income Tax Act, 1961. The Commissioner (Appeals) upheld the disallowance, classifying the interest income as "income from other sources" based on a judgment of the Madras High Court. However, the Tribunal allowed the appeal in part, directing the Assessing Officer to verify and allow the claim of expenses against the business income after following the precedent set by the Madras High Court. Case-Laws Income Tax Wed, 19 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344646