Internet expenses not deductible against interest income due to lack of nexus

Adarsh Sahakari Ghar Bandhnari Mandali Ltd Vs ACIT (ITAT Surat)

The case involves Adarsh Sahakari Ghar Bandhnari Mandali Ltd, a co-operative housing society, which claimed expenses on internet subscription and Airtel subscription as deductions under Section 57 of the Income Tax Act for the assessment year 2013-14. The Assessing Officer disallowed the deductions, and the decision was upheld by the National Faceless Appeal Centre, Delhi (NFAC) or the Commissioner of Income Tax (Appeals) [CIT(A)]. The society appealed to the IT

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