https://www.taxtmi.com/caselaws?id=397492 The Tribunal allowed the appeal, holding that the interest paid on the loan raised against the FDRs was deductible under section 57(iii) of the Income Tax Act, 1961. The Tribunal found that the expenditure was incurred to preserve the income-earning apparatus and had a direct nexus with the interest earned from the FDRs. Consequently, the decision of the CIT(A) was overturned, and the disallowance was deleted. en-us Thu, 23 Jul 2020 00:00:00 +0530 Thu, 20 Aug 2020 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397492 The Tribunal allowed the appeal, holding that the interest paid on the loan raised against the FDRs was deductible under section 57(iii) of the Income Tax Act, 1961. The Tribunal found that the expenditure was incurred to preserve the income-earning apparatus and had a direct nexus with the interest earned from the FDRs. Consequently, the decision of the CIT(A) was overturned, and the disallowance was deleted. Case-Laws Income Tax Thu, 23 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397492