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2017 (5) TMI 1051 - AT - Income TaxInterest paid allowable as business expenditure - Held that:- It is not in dispute before us that the facts and circumstances under which the disallowance was made by AO and deleted by CIT(A) in A.Y.2003-04 and 2004-05 are identical to the facts and circumstances as it prevailed in A.Y.2001-02. The decision of the Tribunal for A.Y.2001-02 would therefore equally apply to two assessment years 2003-04 and 2004-05. In this circumstance we are of the view that CIT(A) was fully justified in coming to the conclusion that the addition made by the AO cannot be sustained in the light of the decision rendered in A.Y.2001-02. In these circumstances we are of the view that there is no merit in this appeal filed by the revenue. Accordingly both the appeals of the revenue are dismissed.
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