Revision u/s 263 by CIT - Wrong claim of business expenditure - ...

Case Laws Income Tax

January 12, 2022

Revision u/s 263 by CIT - Wrong claim of business expenditure - Since the assessee failed to prove the nexus between the interest income and expenditure incurred, the CIT set aside the order of AO, who allowed the same under the head “income from other sources”. Even before us, the ld. AR of the assessee failed ot prove the nexus between the interest income and expenditure incurred and, therefore, we uphold the order of CIT on this issue - AT

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Revision u/s 263 by CIT - Wrong claim of business expenditure - ...

Case Laws Income Tax

January 12, 2022

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