Interest Set-Off Disallowed: No Nexus Found Between Income and Expenses u/s 70(1) of Income Tax Act.

Interest Set-Off Disallowed: No Nexus Found Between Income and Expenses u/s 70(1) of Income Tax Act. https://www.taxtmi.com/highlights?id=38899 Disallowance of the interest claimed by way of set of - income from other sources - establishment of nexus - interest income with interest expenses - to claim of set off u/s 70(1) against interest income, there has to be a loss under the head income from other sources or any other head of income except capital gain which is not the case of the assessee - AT en-us Sat, 14 Apr 2018 10:11:09 +0530 Sat, 14 Apr 2018 10:11:09 +0530 TaxTMI RSS Generator Interest Set-Off Disallowed: No Nexus Found Between Income and Expenses u/s 70(1) of Income Tax Act. https://www.taxtmi.com/highlights?id=38899 Disallowance of the interest claimed by way of set of - income from other sources - establishment of nexus - interest income with interest expenses - to claim of set off u/s 70(1) against interest income, there has to be a loss under the head income from other sources or any other head of income except capital gain which is not the case of the assessee - AT Highlights Income Tax Sat, 14 Apr 2018 10:11:09 +0530 https://www.taxtmi.com/highlights?id=38899