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2019 (1) TMI 805 - HC - Income TaxDisallowance of interest expenditure claimed by the assessee u/s 36(1)(iii) - Held that:- In the present case, therefore, we are not inclined to examine the correctness of the Tribunal refusing to exercise its jurisdictional powers. However, we have serious doubt whether the Tribunal should have at the very outset given a direction to invoke the Transfer Pricing mechanism while in the appeal filed by the assessee on the issue at hand, the sole question was whether the disallowance of interest expenditure claimed by the assessee under Section 36(1)(iii) of the Act was correctly made. Under the circumstances, while disposing of this petition we observe that none of the pending proceedings of the petitioner assessee, be at any stage of assessment, first appellate or second appellate stage, would be influenced by the observations and directions of the Tribunal in this respect, in the context of the issue similar to the present one.
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