Held that interest expenditure is more than interest income is allowable as deduction. Only condition is expenditure is wholly and exclusively for earning income.(AY. 2013-14) (ITA No. 429/ Ahd/ 2018 dt. 15-3 2024)
Shri Girish Bhai Vadilal Shah v. DCIT (2024) Chamber’s Journal-(2024) April-P. 107 (Ahd)(Trib)
S. 57 : Income from other sources-Deductions-Interest expenditure is more than interest income-Allowable as deduction. [S. 56, 57(iii)]
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