https://www.taxtmi.com/caselaws?id=797163 Interest paid on bank and non-banking financial company borrowings used to advance loans was deductible from income from other sources where the assessment record established a direct nexus between the borrowings, the loans advanced to private parties, and the interest income earned. Interest expenditure incurred to generate declared interest income was allowable under the applicable deduction provision. The corresponding disallowances for both assessment years were deleted. en-us Tue, 11 Aug 2026 00:00:00 +0530 Tue, 18 Aug 2026 08:35:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797163 Interest paid on bank and non-banking financial company borrowings used to advance loans was deductible from income from other sources where the assessment record established a direct nexus between the borrowings, the loans advanced to private parties, and the interest income earned. Interest expenditure incurred to generate declared interest income was allowable under the applicable deduction provision. The corresponding disallowances for both assessment years were deleted. Case-Laws Income Tax Tue, 11 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797163