Assessee Entitled to Deduction for Bank Loan Interest u/s 57(iii); No Extra Income Added for Interest Paid.

The assessee was entitled for deduction on account of interest paid to Allahabad Bank on the borrowed funds under section 57(iii) - such interest payment being more than the interest earned in both the years under consideration, no addition was liable to be made to the total income of the assessee on this issue - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X