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2016 (3) TMI 1397 - AT - Income TaxDisallowance of interest accrued & due but not paid u/s 43B(d) - Assessee that accumulated amount of interest accrued and due but not paid to various unsecured loan and therefore the provisions of section 43(d) was invoked by the Ld. AO - CIT (A) restricted the disallowance to amount charged to the profit and loss account on account of interest accrued and due but not paid - HELD THAT:- In THE BAGHPAT CO-OPERATIVE SUGAR CIRCLE-2, MILLS LTD. [2015 (8) TMI 1267 - ITAT DELHI] it is held that if the interest in question is payable to Government of India and Uttar Pradesh government, section 43B (d) does not apply. No other contrary decision was brought to our notice. In view of this, following the decision of coordinate bench, we reverse the finding of CIT(A) confirming the disallowance u/s 43B(d) - Decided in favour of assessee.
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