Gross Interest Can’t Be Taxed Ignoring Interest Cost: Ahmedabad ITAT

Radhika Abhishek Family Trust Akshay Vs ITO (ITAT Ahmedabad) Gross Interest Can’t Be Taxed Ignoring Interest Cost: Ahmedabad ITAT Deletes ₹9.64 Lakh 69A Addition The Ahmedabad “SMC” Bench of the ITAT allowed the appeal of Radhika Abhishek Family Trust vs. ITO, Ward-1(3)(1), Ahmedabad, ITA No. 1952/Ahd/2025, AY 2020-21, vide order dated 18.12.2025, and deleted the addition of ₹9.64 lakh made u/s 69A The reassessment was initiated on the basis of TDS information showing interest income of ₹9,64,603 received from M/s Aavishkar Trading Company. During reassessment proceedings, the Asse...