Disallowance on interest u/s. 36(1)(iii) - AO has compared the ...

Interest Disallowance u/s 36(1)(iii) Overturned: CIT(A) Decision Deemed Unjustified on Loan Interest Comparison.

November 18, 2021

Case Laws Income Tax AT

Disallowance on interest u/s. 36(1)(iii) - AO has compared the payment of interest @ 12%/15% on the unsecured loan obtained by the assessee with the interest amount received by the assessee @ 8% on FDR made with the HDFC bank - the definite amount of interest paid on unsecured loan used to be on higher side compared to the interest charged on secured loan, therefore, we do not find any justification in the decision of ld. CIT(A) in sustaining the disallowance of interest payment made by the Assessing Officer. - AT

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Disallowance on interest u/s. 36(1)(iii) - AO has compared the ...

Interest Disallowance u/s 36(1)(iii) Overturned: CIT(A) Decision Deemed Unjustified on Loan Interest Comparison.

November 18, 2021

Case Laws Income Tax AT

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