Interest Expense Deductible u/s 57(iii) If Directly Linked to Interest Income Earned by Taxpayer.

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....Addition u/s 57(iii) - Interest expenditure - monies borrowed at a higher rate of interest - it is established that the interest expenditure is linked to the interest income earned by assessee from the company. Therefore, it is allowable expenditure u/s 57(iii) of the Act. - AT....