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2014 (11) TMI 984 - ITAT MUMBAIDisallowance of interest - Whether CIT(A) is correct in holding that Article under which interest u/s. 244A of I.T. Act, 1961 is taxable cannot be decided in proceedings u/s 154 without appreciating the fact that interest issued u/s. 244A being apparently not in the nature of interest on debt is clearly taxable under Article 23 of the India-USA DTAA - Held that:- Following decision of Asstt. CIT Versus Clough Engineering Ltd. [2011 (5) TMI 562 - ITAT, DELHI] - issue is at least a debatable one and hence beyond the pale of section 154 of the Act. We therefore do not find any reason to interfere with the order passed by CIT(A). - Decided against Revenue.
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