https://www.taxtmi.com/caselaws?id=386983 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition of interest expenses claimed under section 57 of the Income Tax Act. The decision emphasized that expenditure must be incurred wholly and exclusively for earning income assessable under "income from other sources," without being restricted in proportion to income. Additionally, the Tribunal criticized the Ld. CIT(A) for not properly appreciating the merits of the case and ordered the deletion of the addition based on consistent views from previous cases. en-us Wed, 18 Sep 2019 00:00:00 +0530 Mon, 14 Oct 2019 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386983 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition of interest expenses claimed under section 57 of the Income Tax Act. The decision emphasized that expenditure must be incurred wholly and exclusively for earning income assessable under "income from other sources," without being restricted in proportion to income. Additionally, the Tribunal criticized the Ld. CIT(A) for not properly appreciating the merits of the case and ordered the deletion of the addition based on consistent views from previous cases. Case-Laws Income Tax Wed, 18 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386983