The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that Interest expense which is in nature of rent deposit cannot be disallowed. The Revenue appealed against the order of Commissioner of Income-tax (Appeals)-1, Ahmedabad [“CIT(A)]” dated 23.05.2016 which restricted the addition of Rs. 2,63,59,170/- made by the Assessing Officer on account of…
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