Case Law Details
Case Name : DCIT Vs Surym Infrastructure (ITAT Ahmedabad)
Related Assessment Year : 2018-19
Courts :
All ITAT ITAT Ahmedabad
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DCIT Vs Surym Infrastructure (ITAT Ahmedabad)
Interest on Unsecured Loans Allowed: ITAT Ahmedabad Holds AO Cannot Disallow ₹1.95 Cr Interest on Mere Presumptions & Third-Party Statements
In this Revenue appeal for AY 2018-19, the Assessing Officer had disallowed ₹1,95,44,506 of interest paid by Surym Infrastructure on unsecured loans. No fresh loans were taken in the year; only interest on opening balances was credited with proper TDS. AO doubted genuine
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