https://www.taxtmi.com/caselaws?id=764688 The court remanded the case back to the Assessing Officer (AO) for fresh adjudication, as the AO and the Commissioner of Income Tax (Appeals) [CIT(A)] had disallowed the interest expenditure claimed by the assessee without conducting a thorough inquiry into the loans allegedly taken by the minor child. The court found that the lower authorities failed to adequately examine the facts and evidence, necessitating a reevaluation. The assessee is to be given an opportunity to provide relevant documents and submissions, ensuring a comprehensive inquiry and fair determination of the issue in accordance with the law. en-us Fri, 30 Aug 2024 00:00:00 +0530 Thu, 16 Jan 2025 08:17:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764688 The court remanded the case back to the Assessing Officer (AO) for fresh adjudication, as the AO and the Commissioner of Income Tax (Appeals) [CIT(A)] had disallowed the interest expenditure claimed by the assessee without conducting a thorough inquiry into the loans allegedly taken by the minor child. The court found that the lower authorities failed to adequately examine the facts and evidence, necessitating a reevaluation. The assessee is to be given an opportunity to provide relevant documents and submissions, ensuring a comprehensive inquiry and fair determination of the issue in accordance with the law. Case-Laws Income Tax Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764688