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 s

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