Disallowance u/s 43B unsustainable as interest paid via OD/CC account

ACIT Vs Ashok Radhakishen Mehra (ITAT Mumbai)

The interest amount has been actually paid by the assessee through Overdraft/Cash Credit account and, therefore, set aside the disallowance made under Section 43B of the Act.

Facts-

During the course of the assessment proceedings it was observed by the A.O that the assessee had debited bank interest expenses of Rs.1,93,79,723/- in his P&L account. On being queried that as to why the afore

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