Interest income taxed as income from other sources; section 44AF not applicable. Interest expenditure deduction disallowed u/s 57(iii).

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....Interest income - new source of income - to be taxed as income from other sources and not as business income - AO rightly denied the application of provisions of section 44AF - Further the assessee has not satisfied the conditions of section 57(iii), so interest expenditure is not to be allowed as deduction - AT....