2019 (6) TMI 1714 - HC - Income Tax

Interest credited to Interest Suspense Account taxed in earlier years now written off during the year - whether the interest is taxable in the year of credit of the suspense account or in the year of recovery? - disallowance of contribution to SBI retired employees medical fund u/s 40(9) - ITAT directing AO to delete addition - HELD THAT - Both these questions form part of the revenue s grounds of appeal in Income Tax Appeal 2019 (6) TMI 1183 - BOMBAY HIGH COURT which by an order passed today we have dismissed.

Summary

The Bombay High Court dismissed the appeal filed by the revenue challenging the judgment of the Income Tax Appellate Tribunal. The court rejected the revenue's grounds of appeal related to interest credited to "Interest Suspense Account" and contribution to SBI retired employees medical fund.