https://www.taxtmi.com/caselaws?id=780622 ITAT (Pune) upheld the addition of interest credited on FDRs and dismissed the assessee's claim for deduction under s.57(iii). The Tribunal found the interest was credited to the assessee's account with TDS and no expenditure had been incurred "wholly and exclusively" to earn that income. Cancellation of the development/escrow agreement returned only the principal to the developer; future uncertainty about repayment did not permit anticipatory deduction. Consequently the claim under s.57(iii) was disallowed and the grounds raised by the assessee were dismissed. en-us Thu, 30 Oct 2025 00:00:00 +0530 Mon, 03 Nov 2025 08:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780622 ITAT (Pune) upheld the addition of interest credited on FDRs and dismissed the assessee's claim for deduction under s.57(iii). The Tribunal found the interest was credited to the assessee's account with TDS and no expenditure had been incurred "wholly and exclusively" to earn that income. Cancellation of the development/escrow agreement returned only the principal to the developer; future uncertainty about repayment did not permit anticipatory deduction. Consequently the claim under s.57(iii) was disallowed and the grounds raised by the assessee were dismissed. Case-Laws Income Tax Thu, 30 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780622