https://www.taxtmi.com/caselaws?id=432734 The Tribunal partly allowed the appellant's claims for interest expenditure deductions for assessment years 2013-14 and 2014-15. It held that the absence of entries in the books of account does not determine the allowability of interest expenditure if no obligation to deduct tax at source exists. The matter was remitted to the Assessing Officer to verify the crystallization of interest liability. The Tribunal emphasized the importance of compliance with tax deduction requirements for deductions' allowability. The decision for 2013-14 was applied to 2014-15, and both appeals were partly allowed on January 10, 2023. en-us Tue, 10 Jan 2023 00:00:00 +0530 Wed, 11 Jan 2023 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432734 The Tribunal partly allowed the appellant's claims for interest expenditure deductions for assessment years 2013-14 and 2014-15. It held that the absence of entries in the books of account does not determine the allowability of interest expenditure if no obligation to deduct tax at source exists. The matter was remitted to the Assessing Officer to verify the crystallization of interest liability. The Tribunal emphasized the importance of compliance with tax deduction requirements for deductions' allowability. The decision for 2013-14 was applied to 2014-15, and both appeals were partly allowed on January 10, 2023. Case-Laws Income Tax Tue, 10 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432734