https://www.taxtmi.com/caselaws?id=413054 The ITAT dismissed the revenue's appeal, upholding the CIT(A)'s order allowing the assessee's claim of Rs. 3,23,84,509/- under Section 43B of the Income Tax Act. The ITAT agreed with the CIT(A)'s findings that the interest paid during the year under OTS was deductible under Section 43B, and denying the deduction would result in double taxation. The ITAT found no fault in the CIT(A)'s directions for verification and concluded that there was no merit in the revenue's arguments. en-us Wed, 29 Sep 2021 00:00:00 +0530 Mon, 04 Oct 2021 08:58:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413054 The ITAT dismissed the revenue's appeal, upholding the CIT(A)'s order allowing the assessee's claim of Rs. 3,23,84,509/- under Section 43B of the Income Tax Act. The ITAT agreed with the CIT(A)'s findings that the interest paid during the year under OTS was deductible under Section 43B, and denying the deduction would result in double taxation. The ITAT found no fault in the CIT(A)'s directions for verification and concluded that there was no merit in the revenue's arguments. Case-Laws Income Tax Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413054