Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (4) TMI 518 - AT - Income TaxDisallowance of interest u/s. 36(1)(iii) - advancement of loans - Held that:- The company has advanced a loan of Rs. ,04,05,929/- and tax of ₹ 32,70,298/- has been deducted on source. These details were available before the AO and he proceeded to make the disallowance of interest of ₹ 1,35,00,000/- brushing aside the crucial evidences placed on record. In view of all and then material on record, hence, the AO was rightly directed by the ld. CIT(A) to delete the disallowance of interest of ₹ 1,35,00,000/- made by the AO u/s. 36(1)(iii) of the Act, which does not need any interference on our part - Decided against revenue
|