ITAT Allows Section 57 Deduction for Interest Paid on Loan Against Fixed Deposits:
ITAT allows Section 57 deduction, restricts claim to taxable interest earned from fixed deposits only.
Deduction allowed despite different use of borrowed funds, subject to income limit.
Meetu Kumari
Jul 3, 2026Premium
ITAT Allows Section 57 Deduction for Interest Paid on Loan Against Fixed Deposits
ITAT allows Section 57 deduction, restricts claim to taxable interest earned from fixed deposits only.
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Meetu Kumari
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Meetu Kumari is an Experienced Advocate and Content Writer with 4+ years of demonstrated history of working in the law practice industry. Skilled in Developing Content, Researching, and Drafting. Strong professional with a Bachelor of Science (B.Sc.) focused on Law from Gujarat National Law University.
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