TaxTMI 
TaxTMI 
2021 (6) TMI 189
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....e : Shri Laxminiwas Sharma For the Revenue : Shri Rohit Mujumdar ORDER PER L.P. SAHU, A.M.: This appeal filed by the Revenue is directed against CIT(A) - 4, Hyderabad's order dated 21/05/2019 involving proceedings u/s 143(3) of the Income Tax Act, 1961 ; in short "the Act" wherein the revenue's grievance is that the CIT(A) erred in deleting the addition made towards interest expenses claimed w....
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....ental income as there is no relation to the income offered and the expenditure claimed and the assessee has not offered any income from business operations as there were no business transactions during the year. In view of the above observations, the AO disallowed the interest amount of Rs. 2,48,63,202/- by holding that from the extracts of the minutes of the meeting of the board of directors held....
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....has been offered to tax, the AO is not justified in making the said disallowance of Rs. 2,48,63,202/- towards interest amount. He, therefore, directed to delete the said disallowance. 4. Aggrieved by the order of CIT(A), the revenue is in appeal before the ITAT. 5. Considered the rival submissions and perused the material on record as well as the orders of revenue authorities. The case of the as....