consistency in income tax assessments

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....onsistency in income tax assessments<br> Query (Issue) Started By: - satbir singhwahi Dated:- 28-9-2017 Last Reply Date:- 29-9-2017 Income Tax<br>Got 10 Replies<br>Income Tax<br>Sir If interest expences are allowed in past assessments years u/s 143(3), whether consistency in assessments need to maintained.Pls guide any case laws. Reply By MARIAPPAN GOVINDARAJAN: The Reply: Your query is not to ....

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....the point. Please furnish your correct query. Reply By satbir singhwahi: The Reply: Sir During assessment u/s 143(3) , interest paid on loans taken was allowed in Assessment year 2008-09 to 2012-13.Now in assessment year 2013-14 the A.O. disallowed 1/10th of interest expence. The matter is now in appeal. The loan was taken in 2008-09 and deployed in business.So consistency in assessment to be m....

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....aintained if facts are same. Any case law to help. Reply By MARIAPPAN GOVINDARAJAN: The Reply: What is the reason given by the department in disallowing the interest? Reply By satbir singhwahi: The Reply: Department has done adhoc diallowance of 1/10 th of interest claimed . Wrongly alleged that funds were not fully utilised for business purpose. Reply By MARIAPPAN GOVINDARAJAN: The Reply: N....

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....ow it is obligation on you to prove the allegation of the Department. Reply By satbir singhwahi: The Reply: Sir That i will prove. But want some case laws to substantiate to follow past orders if facts are same with previous years. Reply By MARIAPPAN GOVINDARAJAN: The Reply: If you give the facts of your case, then it can be possible to trace out the similar case laws. Reply By satbir singhw....

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....ahi: The Reply: Sir The fact of case 2013-14 is A.O. has disallowed 1/10 interest claimed , being not fully utilised for business. Wheras loan taken in 2008-09 and fully utilised for business purpose. No new loan taken. But A.O. has allowed full interest in 2008-09 to 2012-13. Reply By MARIAPPAN GOVINDARAJAN: The Reply: OK I will try for you. Reply By satbir singhwahi: The Reply: Thanks Sir<....

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