No Disallowance can be made in the Absence of Interest Received on Debit: ITAT deletes Addition [Read Order]

No Disallowance - Absence of Interest Received on Debit - ITAT deletes Addition -Interest Received on Debit - Interest Received -taxscan

The Jodhpur bench of the Income Tax Appellate Tribunal held that when the interest is not received no disallowance can be made. The assessee marched the appeal on the ground that on the facts and in the circumstances of the case,  the CIT(A) had erred in sustaining the disallowance of interest for Rs. 13,23,694/- made…

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