https://www.taxtmi.com/caselaws?id=768740 Bombay HC dismissed the appeal challenging disallowance of interest paid to beneficiaries under section 40(b). The appellant trust had declared itself as Association of Persons in its return and made no attempt to rectify this declaration. The Income Tax Appellate Tribunal found this declaration was not an erroneous mistake since no correction was sought. HC held that under section 260A, factual findings can only be interfered with if perverse, which was not established. The orders of AO, CIT (Appeals) and Tribunal were based on meticulous evidence appreciation and upheld against the assessee. en-us Thu, 03 Apr 2025 00:00:00 +0530 Sat, 12 Apr 2025 08:40:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768740 Bombay HC dismissed the appeal challenging disallowance of interest paid to beneficiaries under section 40(b). The appellant trust had declared itself as Association of Persons in its return and made no attempt to rectify this declaration. The Income Tax Appellate Tribunal found this declaration was not an erroneous mistake since no correction was sought. HC held that under section 260A, factual findings can only be interfered with if perverse, which was not established. The orders of AO, CIT (Appeals) and Tribunal were based on meticulous evidence appreciation and upheld against the assessee. Case-Laws Income Tax Thu, 03 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768740