ITAT Grants Fresh Opportunity in Section 57(iii) Interest Disallowance Case, Remands Matter for Verification | Biz Flow Kit
ITAT Grants Fresh Opportunity in Section 57(iii) Interest Disallowance Case, Remands Matter for Verification The ITAT Delhi held that the interest expense disallowance under Section 57(iii) needs proper verification. Since the assessee had relevant documents not submitted earlier, the tribunal remanded the case to the AO, allowing a fresh opportunity. Appeals allowed for statistical purposes….