1983 (11) TMI 46

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....vered by RAJASEKHARA MURTHY J.-The following question has been referred by the Income-tax Appellate Tribunal, Bangalore Bench, under s. 256(1) of the I.T. Act, for the opinion of this court : " Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the interest deducted by the bank on fixed deposits surrendered prematurely could not be allowed as d....

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....incurred for the purpose of earning the interest on fixed deposits. The assessee failed in her appeal before the AAC and in further appeal before the Tribunal. Being aggrieved by the order of the Tribunal, the assessee has sought this reference on the question referred to above. As could be seen from the order of assessment, under the head " Other sources ", a sum of Rs. 10,101 was assess....