RRPR Holding (P.) Ltd. v. DCIT (2023) 201 ITD 781/226 ITR 559 (Delhi) (Trib.)

S. 57 : Income from other sources-Deductions-Interest income on fixed deposits-Interest expenditure had not given rise to corresponding interest income-Not allowable as deduction. [S.56, 57(iii)]

 

Held that  in absence of any live nexus between expenditure and corresponding income, revenue authorities had rightly disallowed claim of interest expenses having regard to narrower scope of deductions eligible under section 57(iii) of the Act. (AY. 2010-11)

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