Held that the assessee had not brought on record any documentary evidence to show that it had incurred interest expenditure as against income assessed under head ‘Income from other sources’, disallowance of interest expenditure is held to be justified (AY. 2016-17)
Yash Vardhan Arya v. ITO(IT) (2022) 196 ITD 276 / 97 ITR 5(SN) (Bang.)(Trib.)
S. 57 : Income from other sources-Deductions-Interest-Not brought on record any documentary evidence to show that it had incurred interest expenditure as against income assessed under head ‘Income from other sources’-Disallowance of interest expenditure was confirmed. [S. 56]