https://www.taxtmi.com/caselaws?id=402691 The appellant's challenge against the disallowance of interest expenditure under section 40(a)(ia) of the Income Tax Act due to non-deduction of TDS was referred back to the Assessing Officer for verification. The claim for bad debt under section 36(1)(viii) and as business loss was dismissed. An addition under section 68 was remitted for verification of loan repayment claims, emphasizing the discretionary nature of invoking section 68. The Tribunal directed fresh determinations and verifications by the Assessing Officer, ensuring compliance with legal precedents and principles. The appellant's appeal was partly allowed for statistical purposes. en-us Tue, 29 Dec 2020 00:00:00 +0530 Sat, 09 Jan 2021 21:32:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402691 The appellant's challenge against the disallowance of interest expenditure under section 40(a)(ia) of the Income Tax Act due to non-deduction of TDS was referred back to the Assessing Officer for verification. The claim for bad debt under section 36(1)(viii) and as business loss was dismissed. An addition under section 68 was remitted for verification of loan repayment claims, emphasizing the discretionary nature of invoking section 68. The Tribunal directed fresh determinations and verifications by the Assessing Officer, ensuring compliance with legal precedents and principles. The appellant's appeal was partly allowed for statistical purposes. Case-Laws Income Tax Tue, 29 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402691