Assessment u/s 153A - addition on account of interest paid by ...

Court Rules in Favor of Assessee: Interest Disallowance u/s 153A Invalid Without Cross-Examination Opportunity.

November 17, 2021

Case Laws     Income Tax     AT

Assessment u/s 153A - addition on account of interest paid by the assessee on unsecured loans - The only reason for making and upholding the disallowance of the interest is the statement recorded by the officers of the Department and that too not by the Assessing Officer himself and that too which were not made available to the assessee for cross examination and therefore, these statements cannot be utilized against the assessee. If we ignore these statements, the rest of documentary evidences well support the claim of the assessee. - AT

View Source