CIT(Appeals) Deletes Interest Expense Additions Due to Lack of Evidence u/s 57, Rejects Speculative Claims.

Addition of interest expenses claimed u/s 57 - All the details were before the CIT(Appeals) but instead of pin pointing any concrete diversion of interest bearing funds; CIT(Appeals) only assumed that some funds might have been used by the assessee for some other purposes - Additions deleted. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X