No addition can be made on Interest Received from Arbitration Award for Settle Dispute with respect to Contact of Payment: ITAT [Read Order]

addition - Interest - Arbitration Award - Dispute Contact - Payment - ITAT - taxscan

The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that no addition could be made on interest received from an arbitration award for settlement dispute with respect to contract of payment. The Assessee Chandi Ram derived income from civil construction work. When a notice under section 148 of the Income-Tax Act, 1961…

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