No Disallowance on Assumption of getting Future Tax Free Income from Investment made by assesee : ITAT deletes Addition [Read Order]

ITAT Kolkata - Disallowance - Tax Free Income - assesee - Commissioner of Income Tax - taxscan

The Kolkata bench of Income Tax Appellate Tribunal (ITAT) has recently held that disallowance made on the assumption of getting future tax free income from the investment made by the assessee would not be sustainable. Therefore the bench deleted the addition.  While the proceedings were carried out, no one is appeard for the assesee  N.T. Sherpa appeared…

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