https://www.taxtmi.com/highlights?id=65979 Addition of interest income - assessee is a resident welfare association (RWA) having status of association of persons (AOP) under the Income-Tax Act - as rightly contended by the learned AR Section 40 (ba) is applicable while computing business income. This clause is not applicable while computing income from other sources. There is no prohibition in Section 57 (iii) under which deduction of interest is eligible to the assessee society.- AT en-us Mon, 10 Oct 2022 10:00:41 +0530 Mon, 10 Oct 2022 10:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65979 Addition of interest income - assessee is a resident welfare association (RWA) having status of association of persons (AOP) under the Income-Tax Act - as rightly contended by the learned AR Section 40 (ba) is applicable while computing business income. This clause is not applicable while computing income from other sources. There is no prohibition in Section 57 (iii) under which deduction of interest is eligible to the assessee society.- AT Highlights Income Tax Mon, 10 Oct 2022 10:00:41 +0530 https://www.taxtmi.com/highlights?id=65979