https://www.taxtmi.com/caselaws?id=434192 The Tribunal allowed the appeal, setting aside the Commissioner of Income Tax (Appeals)'s decision to disallow interest paid to banks against income from other sources for AY 2015-16. The Tribunal found that the loans were taken against property, consistent with the Assessee's claims in previous and subsequent years. Citing legal precedents emphasizing consistency in tax assessments, the Tribunal directed the Assessing Officer to delete the disallowance under Section 57 of the Income Tax Act, concluding that there was no justification for deviating from accepted practices. en-us Thu, 16 Feb 2023 00:00:00 +0530 Sat, 18 Feb 2023 06:50:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434192 The Tribunal allowed the appeal, setting aside the Commissioner of Income Tax (Appeals)'s decision to disallow interest paid to banks against income from other sources for AY 2015-16. The Tribunal found that the loans were taken against property, consistent with the Assessee's claims in previous and subsequent years. Citing legal precedents emphasizing consistency in tax assessments, the Tribunal directed the Assessing Officer to delete the disallowance under Section 57 of the Income Tax Act, concluding that there was no justification for deviating from accepted practices. Case-Laws Income Tax Thu, 16 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434192