Taxpayer Denied Interest Deduction on Loan for Property Purchase u/s 57(iii) of Income Tax Act.

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....Allowability of the interest expenditure as a deduction u/s 57(iii) against interest on FDRs - assessee for not opting for a premature encashment of the FDR's and rather raising a loan from the bank to facilitate purchase of residential property - Claim of the assessee not allowed.....