https://www.taxtmi.com/caselaws?id=18828 Interest income from fixed deposits could not be reduced by expenses that were not shown to have been incurred for earning that income, because deduction under section 57(iii) requires a factual nexus between the expenditure and the income-producing activity. The Tribunal's finding that the claimed expenses lacked that nexus was a finding of fact based on appreciation of the record, so no referable question of law survived for reference. The request for reference was therefore rejected, and the tax case petition failed. en-us Wed, 15 Mar 1995 00:00:00 +0530 Mon, 02 Nov 2009 12:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18828 Interest income from fixed deposits could not be reduced by expenses that were not shown to have been incurred for earning that income, because deduction under section 57(iii) requires a factual nexus between the expenditure and the income-producing activity. The Tribunal's finding that the claimed expenses lacked that nexus was a finding of fact based on appreciation of the record, so no referable question of law survived for reference. The request for reference was therefore rejected, and the tax case petition failed. Case-Laws Income Tax Wed, 15 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18828