Re-verify Section 69C interest expense disallowance: ITAT Ahmedabad

Upendra Chinubhai Shah Vs ACIT (ITAT Ahmedabad) Disallowance of interest expense u/s. 69C needs re-verification hence matter send back: ITAT Ahmedabad ITAT Ahmedabad held that disallowance of interest expense by treating the same as unexplained expenditure under section 69C of the Income Tax Act needs re-verification. Accordingly, matter send back to the file of jurisdictional AO. Facts- The assessee is an individual deriving income from Salary, house property, capital gain, business as well as other sources. The return of the assessee was taken for scrutiny assessment. AO issued a notice date...