Section 57 of the Income-tax Act, 1961—Income from other sources—Section 57(iii) provides for deduction only of expenditure incurred wholly and exclusively 'for the purpose of making or earning such income" and in order that expenditure may be admissible under section 57(iii), if it is proved that the primary motive of incurring such interest expenses is directly to earn income under the head "income from other sources".  Expenditure incurred is not a condition precedent for allowing the deduction under section 57(iii). It is only for the purpose of making or earning of income which is required for allowing the deduction under section 57(iii) and not the actual income earned by the assessee. For claiming deduction u/s 57(iii), it would be sufficient to prove that there is nexus between the income earned and amount expended and in view of that matter, all the requirements for claiming deduction u/s 57(iii) are fulfilled and therefore assessee's claim of interest of Rs.49,38,149/- laid out "wholly and exclusively" for the purpose of earning interest shown under the head "Income from Other Sources" can be legally allowed u/s 57(iii) — Akash Goyal vs. Asstt. CIT. [2020] 180 ITD 551 (AGRA)