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2023 (3) TMI 1345 - AT - Income TaxAllowability of interest expenses under “Income from Other Sources” - interest paid to SBI loan - assessee has not shown any income from the said property - assessee was requested to show cause as to why the said interest expenses should not be disallowed u/s. 57 - HELD THAT:- During the appellate proceedings assessee could not demonstrate as to how the professional income was “Income from Other Sources” and how the loan taken from the bank was utilized exclusively for the purpose of earning said income. Thus the assessee has not proved allowability of interest expenses either u/s. 57 or u/s. 37 of the Act. In the absence of evidence from the assessee, the disallowance made by the AO does not require any interference. Even before us, no materials placed by the assessee, neither written submission nor Paper Book filed before us. The assessee has not given Power of Attorney to any Authorized Representative to appear for the above case. In the absence of same, we have no hesitation in confirming the order passed by the Lower Authorities. Thus the grounds raised by the assessee are devoid of merits and the same is hereby dismissed. Appeal filed by the Assessee is hereby dismissed.
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