ITAT allows deduction of interest paid on Perpetual Non-Convertible Debentures (PNCD)

Tata Steel Limited Vs ACIT (ITAT Mumbai) The case of Tata Steel Limited vs. ACIT, heard by the Income Tax Appellate Tribunal (ITAT) Mumbai, involves a comprehensive examination of various grounds raised by the appellant against the assessment made by the Assessing Officer (AO) for the assessment years (AY) 2016-17 and 2017-18. The appellant contests several disallowances and adjustments made by the AO, seeking relief and clarification on multiple fronts. The Income Tax Appellate Tribunal (ITAT) rendered decisions on each ground raised by Tata Steel Limited in their appeal against the Assessing...