https://www.taxtmi.com/highlights?id=67687 Disallowance of interest expense paid u/s. 57 - nexus between the funds withdraw from the Partnership Firm and funds used for acquiring immovable property - if we apply the reasoning given in the immediate preceding paragraph that had the assessee not borrowed the money from the partnership firm on interest basis and would have taken the money out of the deposits made with the companies, there would not have been any question of the interest expenses whether capital or revenue in nature. - Claim allowed - AT en-us Fri, 13 Jan 2023 07:30:19 +0530 Fri, 13 Jan 2023 07:30:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67687 Disallowance of interest expense paid u/s. 57 - nexus between the funds withdraw from the Partnership Firm and funds used for acquiring immovable property - if we apply the reasoning given in the immediate preceding paragraph that had the assessee not borrowed the money from the partnership firm on interest basis and would have taken the money out of the deposits made with the companies, there would not have been any question of the interest expenses whether capital or revenue in nature. - Claim allowed - AT Highlights Income Tax Fri, 13 Jan 2023 07:30:19 +0530 https://www.taxtmi.com/highlights?id=67687