Expense having no nexus with Income from other sources cannot be allowed

Nirav Dilipkumar Desai Vs ITO (ITAT Ahmedabad) The Assessing Officer observed that the assessee has shown Rs. 11,86,798/- under the head “income from other sources” and in the schedule of other sources. The assessee has shown Rs. 41,15,221/- and claimed expenses of Rs. 29,28,423/-. The Assessing Officer further observed that the expenses claimed has no nexus with the income from offered and therefore, made addition of Rs. 29,28,423/- which was claimed under Section 57(iii) of the Act by the assessee. It is pertinent to note that as regards addition ground raised by the assessee the Circula...