Interest Received Loan given from OD not Taxable: ITAT Deletes Addition [Read Order]

Interest Received Loan given from OD not Taxable - ITAT Deletes Addition - TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that interest received from a loan given from the overdraft is not taxable hence deleted the additions. The assessee derives income from salary and income from other sources. The assessee has filed the return of income disclosing a total income of Rs. 18,15,940/-. The…

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