Dismissing the appeal of the assessee, the Tribunal held that failure to establish directly related to earning of interest income from banks bank charges cannot be allowed as deduction. (AY. 2011 -12)
Dinesh H. Valecha v. DCIT (2019) 178 ITD 701 (Mum.)(Trib.)
S. 57 : Income from other sources-Deductions–Interest from bank-Bank charges-Failure to establish directly related to earning of interest income from banks. [S. 56, 57(iii)]