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Interest Income Addition Sent Back for Verification by ITAT
Case Law Details
- Case Name
- Kalpana Nitin Shah Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Mumbai
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Kalpana Nitin Shah Vs ITO (ITAT Mumbai)
Interest Income Addition Restored for Verification; Jet Airways Principle Held Inapplicable Where Reopening Issue Already Offered
The Mumbai SMC Bench of the ITAT partly allowed the appeal of Kalpana Nitin Shah for AY 2011-12, restoring the issue of interest income addition to the Assessing Officer for fresh adjudication.
The reassessment was initiated on the ground of capital gains from sale of property. In response to the section 148 notice, the assessee suo motu disclosed and offered the entire capital gains, and no further addition was made on that i...
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