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2015 (2) TMI 155 - AT - Income TaxDisallowance of interest - loans advanced by the assessee to the employee’s welfare trust - Held that:- The ld DR contention that this aspect of the matter requires verification as it is not clear that the same loan given by the assessee company to the employees welfare trust for A.Y 2008-09 is continued in both the years under consideration and since the ld Counsel for the assessee also has no objection for getting this aspect verified from the AO, we restore this issue to the file of the AO for the limited purpose of verifying as to whether same loan given by the assessee company to its employees welfare trust is continued even during the year under consideration. If this factual position is found to be correct on such verification, the AO shall delete the disallowance made on account of interest for both the years under consideration. - Decided in favour of assessee for statistical purposes.
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