https://www.taxtmi.com/caselaws?id=34938 Interest earned from loans advanced to employees was treated as income from other sources, but deduction under section 57(iii) was unavailable because the interest paid to NABARD was not expenditure laid out wholly and exclusively for earning that income. No direct nexus existed between the two interest streams, so the claimed set-off was impermissible and the assessee's claim failed. en-us Thu, 15 Jan 2009 00:00:00 +0530 Thu, 12 Nov 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34938 Interest earned from loans advanced to employees was treated as income from other sources, but deduction under section 57(iii) was unavailable because the interest paid to NABARD was not expenditure laid out wholly and exclusively for earning that income. No direct nexus existed between the two interest streams, so the claimed set-off was impermissible and the assessee's claim failed. Case-Laws Income Tax Thu, 15 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34938