Taxpayer Wins Deduction: Interest Expenses Allowed u/s 57(iii) for Income from Other Sources.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance of interest expense - interest expense not attributable to the business shown u/s 44AD - claiming separate deduction under section 57(iii) - As abundantly clear that expenditure incurred by the assessee for the purpose of earning the income, under the head “income from other sources” should be allowed as a deduction under section 57(iii) - Additions confirmed by the CIT(A) deleted - AT....