https://www.taxtmi.com/caselaws?id=429805 The Tribunal allowed the assessee's appeal concerning the disallowance of interest expenses under Section 36(1)(iii) of the Income Tax Act, reversing the CIT(A)'s enhancement of income, citing lack of jurisdiction. However, the Tribunal upheld the AO's addition of interest on the income tax refund, as the assessee failed to provide substantial evidence against it. The appeal for ITA No. 298/JP/2017 was allowed, while ITA No. 299/JP/2017 was partly allowed. en-us Mon, 26 Sep 2022 00:00:00 +0530 Wed, 06 Mar 2024 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429805 The Tribunal allowed the assessee's appeal concerning the disallowance of interest expenses under Section 36(1)(iii) of the Income Tax Act, reversing the CIT(A)'s enhancement of income, citing lack of jurisdiction. However, the Tribunal upheld the AO's addition of interest on the income tax refund, as the assessee failed to provide substantial evidence against it. The appeal for ITA No. 298/JP/2017 was allowed, while ITA No. 299/JP/2017 was partly allowed. Case-Laws Income Tax Mon, 26 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429805