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2018 (6) TMI 154 - AT - Income TaxDisallowance of difference between the interest received and interest paid of Interest u/s 57(iii) - allowance only to the extent of interest received by the appellant - Held that:- Neither the AO nor the Ld. CIT(A) has examined the contentious issue in the light of judgement of COMMISSIONER OF INCOME-TAX VERSUS AMRITABEN R. SHAH [1999 (4) TMI 73 - BOMBAY HIGH COURT] - thus we set aside the order of the Ld. CIT(A) and restore the matter to the file of the AO to make a fresh assessment - assessee must be given reasonable opportunity of being heard - allowed for statistical purposes.
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