This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Interest & Commission not allowable Due to Lack of Proof of Business Use & Genuineness: ITAT Delhi
Case Law Details
- Case Name
- Vivek Sheel Aggarwal Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Vivek Sheel Aggarwal Vs DCIT (ITAT Delhi)
Summary: The Income Tax Appellate Tribunal (ITAT) Delhi dismissed the appeal filed by Vivek Sheel Aggarwal, upholding the disallowance of interest and commission expenses claimed as deductions. The Assessing Officer (AO) had disallowed ₹39,43,516 claimed under Section 57 of the Income-tax Act, 1961, as interest on a home loan, and ₹11,59,536 claimed as commission expenditure. The AO’s decision was based on the assessee’s failure to provide sufficient evidence demonstrating that the loan was utilized for purposes other than the construct...
Author Info
