https://www.taxtmi.com/caselaws?id=39590 The court held that the payment of interest totaling Rs. 10,279 was not deductible under Section 57(iii) of the Income-tax Act. The expenditure did not meet the criteria of being "wholly and exclusively" for earning income from other sources, as it was primarily for settling personal tax obligations. The court ruled in favor of the revenue, and the applicant was directed to cover the Commissioner's costs. en-us Mon, 03 Dec 1973 00:00:00 +0530 Mon, 19 Apr 2010 10:28:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39590 The court held that the payment of interest totaling Rs. 10,279 was not deductible under Section 57(iii) of the Income-tax Act. The expenditure did not meet the criteria of being "wholly and exclusively" for earning income from other sources, as it was primarily for settling personal tax obligations. The court ruled in favor of the revenue, and the applicant was directed to cover the Commissioner's costs. Case-Laws Income Tax Mon, 03 Dec 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39590