Interest Expenditure incurred for Earning Income Chargeable under “Income from Business and Profession” Eligible for Deduction u/s 36(1)(iii): ITAT [Read Order]

Relief to Karur Vysya Bank: ITAT allows deduction u/s 36(1) (viii) as Reserve is Created out of Profit for Year 2013-2014, Deletes Addition [Read Order]

ITAT upholds Deletion of Addition towards Disallowance of Interest on Borrowed Capital u/s.36(1)(iii) out of Commercial Expediency [Read Order]

No Disallowance u/s 36(1)(iii) of Income Tax Act towards interest paid to IDFC Bank for loan taken to Construct Hostel for Students: ITAT [Read Order]

ITAT deletes Addition u/s 36(1)(iii) of Income Tax Act as AO failed to Prove Interest Bearing Fund/Loans were not utilized for Business Purposes [Read Order]

AO Fails to Verify Additional Evidence in violation of Rule 46A of Income Tax Rules: ITAT directs Readjudication [Read Order]