Case Law Details
Case Name : Dharam Bhushan Jain Vs ACIT (ITAT Delhi)
Related Assessment Year : 2014-15
Courts :
All ITAT ITAT Delhi
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
Dharam Bhushan Jain Vs ACIT (ITAT Delhi)
We find the A.O. in the instant case disallowed the deduction of Rs.5,41,397/- claimed by the assessee under section 57 of the I.T. Act, 1961 out of the interest income of Rs.42,09,926/- and deduction of interest expenses of Rs.5,41,397/- on the ground that assessee has paid interest @ 18% on the borrowed capital which was invested for acquisition of agricultural land and repayment of earlier loans and advances and the assessee is receiving lower rate of interest.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.