Income under any head of income is to be computed following the computation provisions only

Brief of the case  In the case of Akansha Ranju Pilani vs. Income Tax officer, (ITAT Mumbai) has held that Only the expenditure/outgoings specified under the relevant head of income and, further, subject to the conditions specified in respect thereof, stand to be allowed in computing the income under that head of income. Merely because the assessee may have incurred expenditure toward or in relation to an income falling under a particular head of income, would not by itself be sufficient to allow the same. Facts of the case 1. The assessee’s borrowing from bank was toward and, in fact, util...