https://www.taxtmi.com/caselaws?id=15307 The court ruled in favor of the assessee, a private limited company in liquidation, allowing the expenditure under section 57(iii) against income assessable under 'Other sources' for the assessment years 1978-79, 1979-80, and 1980-81. The court held that the expenses incurred were essential for earning interest income and maintaining infrastructure, thus qualifying for deduction. The decision was based on the nexus between the expenditure and the interest income earned by the official liquidator, affirming the Tribunal's findings. en-us Mon, 22 Dec 1997 00:00:00 +0530 Tue, 04 Aug 2009 16:32:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15307 The court ruled in favor of the assessee, a private limited company in liquidation, allowing the expenditure under section 57(iii) against income assessable under 'Other sources' for the assessment years 1978-79, 1979-80, and 1980-81. The court held that the expenses incurred were essential for earning interest income and maintaining infrastructure, thus qualifying for deduction. The decision was based on the nexus between the expenditure and the interest income earned by the official liquidator, affirming the Tribunal's findings. Case-Laws Income Tax Mon, 22 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15307