2018 (9) TMI 100

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.... ACCOUNTANT MEMBER, This appeal by the assessee is preferred against the order of the Commissioner of Income Tax [Appeals] - 6, New Delhi dated 14.08.2018 pertaining to assessment year 2013-14. 2. The sum and substance of the grievance of the assessee is that the CIT(A) erred in confirming the addition of Rs. 22,40,424/- disallowing set off of interest income. 3. Briefly stated, the facts of t....

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....f Rs. 27,59,040/-. It is the say of the ld. AR that since earning of interest and payment of interest is on the same account, therefore, there is no reason why the interest should not be allowed to be set off against interest payment. 5. Per contra, the ld. DR strongly supported the findings of the AO. 6. We have given thoughtful consideration to the orders of the authorities below. There is no ....