Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]

Excess interest paid to partners - mistake in Tax Audit Report - ITAT - Readjudication - taxscan

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while observing that excess interest paid to the partners of the firm was due to a mistake in the Tax audit report, directed it for readjudication. The assessee, Ruskin Chemipharm, is a registered partnership firm. For the year under consideration, it filed its return of income by…

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