https://www.taxtmi.com/caselaws?id=27801 Interest accrued on fixed deposits up to the date of premature termination was taxable in the relevant year, but the repayment made to the bank on early closure had no direct connection with earning that interest. Because the repayment arose from the termination itself and not as an expenditure incurred for earning the interest income, the claimed deduction was correctly disallowed against that income. en-us Thu, 17 Nov 1983 00:00:00 +0530 Tue, 16 Feb 2010 11:40:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27801 Interest accrued on fixed deposits up to the date of premature termination was taxable in the relevant year, but the repayment made to the bank on early closure had no direct connection with earning that interest. Because the repayment arose from the termination itself and not as an expenditure incurred for earning the interest income, the claimed deduction was correctly disallowed against that income. Case-Laws Income Tax Thu, 17 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27801