Income earned by way of Interest and claimed under “Income from Other Sources” shall be Allowable Expenditure u/s 57(iii): ITAT [Read Order]

Income earned by way of Interest - Income from Other Sources - ITAT - taxscan

The Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that the income earned by way of interest and claimed under income from other sources shall be allowable expenditure under Section 57(iii) of the Income Tax Act, 1961. The assessee is an individual who derives income under the head income from house property and…

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