CIT(A) can’t make disallowance of interest exp. as same wasn’t subject matter of assessment before AO: ITAT

INCOME TAX : Where issue related to disallowance of interest expenditure incurred by assessee on loan borrowed by it was not subject-matter of assessment before Assessing Officer, impugned order passed by Commissioner (Appeals) disallowing interest expenditure incurred on loan taken by assessee under section 36(1)(iii) was unjustifiedINCOME TAX : Where issue related to disallowance of interest expenditure incurred by assessee on loan borrowed by it was not subject-matter of assessment before Assessing Officer, impugned order passed by Commissioner (Appeals) disallowing interest expenditure incurred on loan taken by assessee under section 36(1)(iii) was unjustifiedwww.taxmann.com Latest Case LawsRead More

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