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2020 (11) TMI 639 - AT - Income TaxDisallowing notional interest on loans taken - CIT-A confirmed addition interest paid to various parties related to the Bhanwarlal Jain Group on the accommodation entries of loans and thus justified and addition - HELD THAT:- As decided in own case AO has disallowed interest while framing assessment on the loans taken in the earlier assessment year which stands deleted by the co-ordinate bench, therefore the addition on account of disallowance of interest in the subsequent year can not be sustained on the same loans and accordingly the addition is ordered to be deleted. The first ground raised by the assessee is allowed. CIT(A) directing the AO to add commission expenses incurred on alleged unaccounted loans to the income of the assessee which has resulted in the enhancement of income without giving proper notice - HELD THAT:- Since the addition made on account of unsecured loans has been deleted therefore, the issue of charging commission expense is a consequential and can not be sustained.
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