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2018 (6) TMI 413 - ITAT KOLKATAAddition under the head interest on Government loan - whether the same does not fall under the purview of section 43B where the registration has been granted to the assessee u/s 12A - Held that:- In view the registration granted to the assessee u/s 12A with retrospective effect which covers the year under appeal as well as the consequent claim of the assessee for exemption u/s 11, the assessee has contended that the provision of section 43B cannot be invoked to make any disallowance in the assessee’s case. DR, on the other hand, has contended that this claim made by the assessee for the first time before the Tribunal requires verification by the AO. Even the claim of the assessee for exemption u/s 11 has been set aside by the Tribunal to the AO for deciding the same in the light of registration granted to the assessee u/s 12A with retrospective effect. We therefore restore the issue relating to disallowance u/s 43B to the file of the AO for deciding the same afresh after verifying the new claim made by the assessee that the provision of section 43B cannot be invoked in its case in the light of registration granted u/s 12A with retrospective effect.
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