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2017 (3) TMI 1160 - HC - Income TaxDisallowance of interest on borrowed - Held that:- Addition on account of interest upto the date of search was deleted by CIT(A) on the ground that no interest bearing funds were utilised for making any interest free loans/advances to various parties and hence, no interest should be disallowed in the year in question, but A.A. has discarded aforesaid deletion made by CIT (A) only on the ground that department has not accepted decision of CIT (A). So long as CIT (A)'s order is not upset, it was not open to A.A. to ignore the same. Therefore, addition made by him was apparently illegal. - Decided in favour of assessee.
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