1979 (4) TMI 47 - AT - Income Tax

Summary

The Revenue's appeal regarding the addition of interest on a loan was dismissed by the Appellate Tribunal ITAT CALCUTTA-B for the asst. yr. 1974-75. The AAC had deleted the addition, stating that the loan had become doubtful and the assessee was not obliged to show the interest income in its accounts. The Tribunal upheld the AAC's decision, and the Revenue's appeal was dismissed.