SHRI VIJAY KUMAR AGGARWAL,JALANDHAR vs. INCOME TAX OFICER,WARD II(4), JALANDHAR
In the result, the appeals of the assessee are dismissed
ITA 119/ASR/2018[2014-15]Status: DisposedITAT Amritsar18 Mar 2019AY 2014-15
Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 38/Asr./2017 : Asstt. Year : 2013-14 Ita No. 77/Asr./2017 : Asstt. Year : 2012-13
For Appellant: Sh. J. S. Bhasin, AdvFor Respondent: Ms. Shivani Bansal, DR
Section 43B
section 43B, are not absolute but qualify 'any sum payable' as interest on any loan or borrowing from any public financial institution or State
Financial
Corpn.
or State
Industrial Investment Corpn., in accordance with the terms and conditions of the agreement governing such loan or borrowing. The Bench therefore, held that only the interest payable during the year in accordance