https://www.taxtmi.com/caselaws?id=428736 The appeal was successful as the Judicial Member, aligning with a previous Tribunal ruling, annulled the addition of Rs.23,67,508 to the appellant's income. The decision was based on the principle that interest expenditure incurred for earning interest income from bank deposits out of security funds was justifiable and not subject to taxation under the principle of mutuality. Consequently, the appeal was allowed, and the addition was deleted, following the Tribunal's decision in a similar case. en-us Tue, 04 Oct 2022 00:00:00 +0530 Mon, 10 Oct 2022 10:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428736 The appeal was successful as the Judicial Member, aligning with a previous Tribunal ruling, annulled the addition of Rs.23,67,508 to the appellant's income. The decision was based on the principle that interest expenditure incurred for earning interest income from bank deposits out of security funds was justifiable and not subject to taxation under the principle of mutuality. Consequently, the appeal was allowed, and the addition was deleted, following the Tribunal's decision in a similar case. Case-Laws Income Tax Tue, 04 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428736