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2019 (8) TMI 611 - AT - Income TaxAddition on account of unpaid interest on the loan granted by the Government of India to the assessee company - HELD THAT:- As in assessee’s own case [2019 (1) TMI 935 - ITAT DELHI] in the present case the assessee company has not claimed waiver of interest on GOI Loan, Guarantee Fee and commitment fee as its expenditure. It is pertinent to note that the waiver of the Interest on loan by the Government of India as well as waiver of LIC guarantee fee along with waiver of Government of India loan has been rightly indicated in the financial statements produced before the AO and the same were reflected in the books of accounts. Therefore, addition on account of Section 41(1) does not sustain. AO as well as the CIT(A) are not correct in making and confirming the addition. We also decide the issue in dispute in favour of the assessee and dismiss the ground of appeal filed by Revenue.
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