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2017 (5) TMI 305 - HC - Income TaxAddition of excess payment of interest expenditure - whether the assessee did not establish the commercial expediency of making payment of interest at @ 15% instead of 12.50%? - ITAT delted the addition - Held that:- considering the fact that the respondent – assessee paid the interest at the rate of 15% and the Assessing Officer was of the opinion that the assessee ought to have paid the interest at the rate of 12.5% and as observed by the learned tribunal the respondent – assessee paid the interest at the rate of 15% looking to the commercial expediency, it cannot be said that the learned tribunal had committed any error in deleting the addition . We are complete agreement with the view taken by the learned tribunal. - Decided in favour of assessee
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