Assessee Entitled to Deduction for Bank Loan Interest u/s 57(iii); No Extra Income Added for Interest Paid.

Assessee Entitled to Deduction for Bank Loan Interest u/s 57(iii); No Extra Income Added for Interest Paid. https://www.taxtmi.com/highlights?id=37891 The assessee was entitled for deduction on account of interest paid to Allahabad Bank on the borrowed funds under section 57(iii) - such interest payment being more than the interest earned in both the years under consideration, no addition was liable to be made to the total income of the assessee on this issue - AT en-us Thu, 08 Feb 2018 12:31:48 +0530 Thu, 08 Feb 2018 12:31:48 +0530 TaxTMI RSS Generator Assessee Entitled to Deduction for Bank Loan Interest u/s 57(iii); No Extra Income Added for Interest Paid. https://www.taxtmi.com/highlights?id=37891 The assessee was entitled for deduction on account of interest paid to Allahabad Bank on the borrowed funds under section 57(iii) - such interest payment being more than the interest earned in both the years under consideration, no addition was liable to be made to the total income of the assessee on this issue - AT Highlights Income Tax Thu, 08 Feb 2018 12:31:48 +0530 https://www.taxtmi.com/highlights?id=37891