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2008 (6) TMI 267 - ITAT LUCKNOW-B
Extract:
.......r would be assessable only under the head Income from other sources . 25. Regarding claim of the assessee about insurance charges, the AO will verify the same and if it is paid/payable (on mercantile basis) by the assessee during the year it will be allowed as deduction under s. 57(iii). 26. As a result, the appeal filed by the assessee is allowed.