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2020 (4) TMI 254 - AT - Income TaxDisallowance of the claim of bad debt - Disallowance of interest expenditure - HELD THAT:- No infirmity in the order of the CIT(A) regarding the decision in respect of both these issues. Regarding bad debts, he has given a categorical finding that this claim is not allowable neither under section 57(iii) nor under 36(1)(vii) of the IT Act, 1961 and regarding disallowance of interest expenditure also, he has given a categorical finding that this amount is not allowable under section 57(iii) of the IT Act, 1961 and it is not allowable as a business expenditure because the assessee has not produced any details to show that the expenditure was related to his business / trading activity and that overdraft was used for the purpose of business. Hence, decline to interfere in the order of the CIT(A). - Decided against assessee.
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