https://www.taxtmi.com/caselaws?id=467917 Deduction of interest under section 57(iii) is available only where the assessee proves, with reliable evidence, that the expenditure was incurred wholly and exclusively for earning income under the head 'Income from other sources'. In the absence of bank statements, satisfactory loan confirmations, and proof of the identity, genuineness, creditworthiness of creditors or the fund trail, the claim fails. Additional evidence must also satisfy the conditions for admission under Rule 46A; unsupported material is not enough. On these facts, the interest disallowance and refusal to admit the additional evidence were sustained. en-us Fri, 14 Feb 2025 00:00:00 +0530 Wed, 08 Apr 2026 14:52:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467917 Deduction of interest under section 57(iii) is available only where the assessee proves, with reliable evidence, that the expenditure was incurred wholly and exclusively for earning income under the head 'Income from other sources'. In the absence of bank statements, satisfactory loan confirmations, and proof of the identity, genuineness, creditworthiness of creditors or the fund trail, the claim fails. Additional evidence must also satisfy the conditions for admission under Rule 46A; unsupported material is not enough. On these facts, the interest disallowance and refusal to admit the additional evidence were sustained. Case-Laws Income Tax Fri, 14 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467917