Supreme Court · 1987 INSC 123 · Decided 22 April 1987
SMT. Padmavati Jaikrishna v. ADDL. Commissioner of Income Tax, Gujarat Ahmedabad
- Court
- Supreme Court of India
- Citation
- 1987 INSC 123 · [1987] 2 S.C.R. 1167
- Case number
- CIVIL APPEAL No. 65/1975
- Decided
- 22 April 1987
- Bench
- R.S. PATHAK, RANGANATH MISRA, K.N. SINGH (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 57(iii)
Headnote
-~ Income Tax Act, 1961-Section 57(iii)-Deduction-Claim for- - ~ Expenditure incurred should be wholly and exclusively for purpose of earning income-Assessee to satisfy Income Tax Officer. c The assessee, assessed as an individual, derived income from -( "other sources" in the shape of ment year 1966-67 she claimed deduction of Rs,U,986 being interest paid on loans taken by her, under s. 57(iii). ~Hhe Income Tax Act, 1961. D The Income Tax Officer fe;>u~<l ~at out of the loans real investment was Rs.1,250 only. He disalluw~ the claim of Rs.10,275 on proportionate
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