TMI Blogconsistency in income tax assessmentsX X X X Extracts X X X X X X X X Extracts X X X X ..... Sir If interest expences are allowed in past assessments years u/s 143(3) , whether consistency in assessments need to maintained.Pls guide any case laws. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Your query is not to the point. Please furnish your correct query. - Reply By satbir singhwahi - The Reply = Sir During assessment u/s 143(3) , interest paid on loans taken was allow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in Assessment year 2008-09 to 2012-13.Now in assessment year 2013-14 the A.O. disallowed 1/10th of interest expence. The matter is now in appeal. The loan was taken in 2008-09 and deployed in business.So consistency in assessment to be maintained if facts are same. Any case law to help. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = What is the reason given by the department in disallowing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the interest? - Reply By satbir singhwahi - The Reply = Department has done adhoc diallowance of 1/10 th of interest claimed . Wrongly alleged that funds were not fully utilised for business purpose. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Now it is obligation on you to prove the allegation of the Department. - Reply By satbir singhwahi - The Reply = Sir That i will prove. But want ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... some case laws to substantiate to follow past orders if facts are same with previous years. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = If you give the facts of your case, then it can be possible to trace out the similar case laws. - Reply By satbir singhwahi - The Reply = Sir The fact of case 2013-14 is A.O. has disallowed 1/10 interest claimed , being not fully utilised for business. Wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eras loan taken in 2008-09 and fully utilised for business purpose. No new loan taken. But A.O. has allowed full interest in 2008-09 to 2012-13. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = OK I will try for you. - Reply By satbir singhwahi - The Reply = Thanks Sir - consistency in income tax assessments - Query Started By: - satbir singhwahi Dated:- 28-9-2017 Income Tax - Got 10 Replies ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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