ITAT Deletes 36(1)(iii) Interest; Remands Rent/Salary for Verification

Mahak Industries Pvt. Ltd. Vs ITO (ITAT Delhi) ITAT Delhi Deletes 36(1)(iii) Interest Disallowance Following Earlier Year & Upholds Remand of Rent/Salary Expenses for Verification Mahak Industries Pvt Ltd appealed against two surviving issues—(i) ₹29,49,583 disallowance of interest u/s 36(1)(iii) sustained by CIT(A), & (ii) ₹3,95,318 disallowance of rent, salary & wages, which CIT(A) had remanded back to AO for verification. The Tribunal noted that the interest disallowance issue was identically decided in assessee’s own case for AY 2015-16 (ITA No.661/Del/2024, dated 09.07...