Dismissing the appeal of the assessee , the Tribunal held that, Failure to establish the nexus between interest earned on fixed deposits and the expenditure incurred , claim of deduction was held to be not allowable .( AY. 2008 -09, 2009-10)
Poona Club Ltd. v. ACIT (2018) 169 ITD 557 (Pune) (Trib.)
S. 57 : Income from other sources – Deductions -Failure to establish the nexus between interest earned on fixed deposits and the expenditure incurred , claim of deduction was held to be not allowable [ S. 56 , 57(iii) ]