Loading judgment…
Facts
The Revenue preferred an appeal against the CIT(A)'s order allowing the interest payment of Rs. 23,39,220/- to M/s. Aneri Fincap Ltd. The interest was paid on a loan treated as bogus in AY 2017-18.
Held
The Tribunal found that the CIT(A) had already deleted the addition related to the bogus unsecured loan of Rs. 2,50,25,577/- and the interest paid thereon. A Co-ordinate Bench had also dismissed the Revenue's appeal.
Key Issues
Whether the CIT(A) erred in allowing interest paid on a loan treated as bogus, when a similar addition was deleted earlier and confirmed by a coordinate bench.
Sections Cited
3.1(h)
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “G” BENCH, MUMBAI
Before: SHRI NARENDRA KUMAR BILLAIYA, HON’BLE & SHRI ANIKESH BANERJEE, HON’BLE
O R D E R