Case Law Details
Case Name : Ankit Ashok Savla Vs ITO (ITAT Ahmedabad)
Related Assessment Year : 2017-18
Courts :
All ITAT ITAT Ahmedabad
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Ankit Ashok Savla Vs ITO (ITAT Ahmedabad)
Introduction: In the landmark case of Ankit Ashok Savla Vs ITO, ITAT Ahmedabad clarified the non-disallowance of interest expenses incurred for earning income from loans and advances under Section 57 of the Income Tax Act. This decision shines a light on how these expenses are treated in the computation of taxable income, establishing an important precedent.
Analysis: The appellant, Ankit Ashok Savla, filed an app
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