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2021 (9) TMI 954 - AT - Income TaxDisallowance of interest u/s. 57(iii) - interest expenditure Set off against the interest income - HELD THAT:- We find force in the contention of the ld. counsel for the assessee. In A.Y. 2012-13, on a similar quarrel, the Tribunal [2018 (7) TMI 2208 - ITAT DELHI]set aside the matter to the file of the Assessing Officer for fresh adjudication and we find that the Assessing Officer, vide assessment order dated NIL, framed u/s. 254 of the Act giving effect to the directions of the Tribunal has accepted the contention of the assessee and allowed set off of expenditure against the interest earned. Considering the facts in totality, we direct the Assessing Officer to delete the impugned addition. Assessee appeal allowed.
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