https://www.taxtmi.com/caselaws?id=293591 The ITAT Mumbai dismissed the Revenue's appeal, upholding the decision of the ld. CIT(A) regarding the interpretation of section 43B of the Income-tax Act. The ITAT ruled in favor of the assessee, emphasizing that interest payments were made, disallowing the interest claimed on the OD/CC Account under section 43B(d)/(e) r.w. Explanation 3D. The ITAT also highlighted the importance of furnishing documentary evidence to support the claim of interest payment, ultimately leading to the deletion of the addition made by the AO. en-us Wed, 07 Dec 2016 00:00:00 +0530 Sat, 20 Feb 2021 09:06:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293591 The ITAT Mumbai dismissed the Revenue's appeal, upholding the decision of the ld. CIT(A) regarding the interpretation of section 43B of the Income-tax Act. The ITAT ruled in favor of the assessee, emphasizing that interest payments were made, disallowing the interest claimed on the OD/CC Account under section 43B(d)/(e) r.w. Explanation 3D. The ITAT also highlighted the importance of furnishing documentary evidence to support the claim of interest payment, ultimately leading to the deletion of the addition made by the AO. Case-Laws Income Tax Wed, 07 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293591