https://www.taxtmi.com/caselaws?id=60495 The tribunal allowed the appeal, holding that the assessee is entitled to the interest deduction under section 57(iii) while computing income from other sources. The tribunal rejected the reasons provided by the income-tax authorities for disallowing the interest and emphasized the importance of the purpose of earning income in determining the allowability of interest payments on borrowings. en-us Tue, 30 Jul 1996 00:00:00 +0530 Wed, 05 Jan 2011 15:56:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60495 The tribunal allowed the appeal, holding that the assessee is entitled to the interest deduction under section 57(iii) while computing income from other sources. The tribunal rejected the reasons provided by the income-tax authorities for disallowing the interest and emphasized the importance of the purpose of earning income in determining the allowability of interest payments on borrowings. Case-Laws Income Tax Tue, 30 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60495