Interest which is not received on debits cannot be disallowed

Sunil & Company Vs ACIT (ITAT Jodhpur)

ITAT Jodhpur held that disallowance of interest which is not at all received by the assessee is unsustainable and accordingly, the disallowance is vacated.

Facts- Assessment u/s. 143(3) was completed by disallowing purchases which were bogus; disallowance of interest u/s 36(1)(iii) of Rs. 16,33,869/- and disallowance of part of personal nature expenses.

Against the above additions so made the ap

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