Interest Expense Claim Denied: Must Be Wholly for Income-Earning Purpose Under Income Tax Act Section 57(iii.

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....Disallowance of claim of interest expenses - The only requirement for allowing the deduction u/s 57(iii) is that the expenditure has been incurred wholly and exclusively for the purpose of earning the income. Thus the purpose of expenditure is relevant and not the end result of such expenditure laid out by the assessee.....