CIT(Appeals) Deletes Interest Expense Additions Due to Lack of Evidence u/s 57, Rejects Speculative Claims.

CIT(Appeals) Deletes Interest Expense Additions Due to Lack of Evidence u/s 57, Rejects Speculative Claims. https://www.taxtmi.com/highlights?id=49716 Addition of interest expenses claimed u/s 57 - All the details were before the CIT(Appeals) but instead of pin pointing any concrete diversion of interest bearing funds; CIT(Appeals) only assumed that some funds might have been used by the assessee for some other purposes - Additions deleted. en-us Mon, 14 Oct 2019 11:17:18 +0530 Mon, 14 Oct 2019 11:17:18 +0530 TaxTMI RSS Generator CIT(Appeals) Deletes Interest Expense Additions Due to Lack of Evidence u/s 57, Rejects Speculative Claims. https://www.taxtmi.com/highlights?id=49716 Addition of interest expenses claimed u/s 57 - All the details were before the CIT(Appeals) but instead of pin pointing any concrete diversion of interest bearing funds; CIT(Appeals) only assumed that some funds might have been used by the assessee for some other purposes - Additions deleted. Highlights Income Tax Mon, 14 Oct 2019 11:17:18 +0530 https://www.taxtmi.com/highlights?id=49716