In the result, the appeal filed by the Revenue is allowed
Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. No.237/Coch/2018 Assessment Year : 2012-13 The Assistant Commissioner Of Vs. M/S. Mini Muthoottu Credit India Income-Tax, Circle-1, Thiruvalla. (P) Ltd., Muthoot Building, Kozhencherry-689 641. [Pan: Aaecm 5739P]
TDS in compliance with the provision of Income Tax Act and the recipients of interest have included the income in their filed returns of income tax and have already paid tax. According to the Ld. AR, the assessee accounted the interest expenses in previous assessment years and the Assessing Officer allowed such expenses as a business expenses