https://www.taxtmi.com/caselaws?id=302830 The ITAT partially allowed the assessee's appeal regarding disallowance of interest on mortgaged back security and loans to deposit holders, stating only net interest income should be considered. The Tribunal upheld the disallowance of referral fee income from insurance companies, citing lack of nexus to long-term housing finance. The ITAT directed the AO to compute deduction for income earned on land loans similar to a previous assessment year. Regarding interest income on SLR investment, the Tribunal dismissed the Revenue's appeal, holding it had a direct nexus to long-term finance business. en-us Mon, 19 Dec 2016 00:00:00 +0530 Mon, 20 Jun 2022 21:16:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302830 The ITAT partially allowed the assessee's appeal regarding disallowance of interest on mortgaged back security and loans to deposit holders, stating only net interest income should be considered. The Tribunal upheld the disallowance of referral fee income from insurance companies, citing lack of nexus to long-term housing finance. The ITAT directed the AO to compute deduction for income earned on land loans similar to a previous assessment year. Regarding interest income on SLR investment, the Tribunal dismissed the Revenue's appeal, holding it had a direct nexus to long-term finance business. Case-Laws Income Tax Mon, 19 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302830