ITAT Delhi Upholds Deletion of ₹22.38 Cr Interest Disallowance – Advances Held Business-Driven

DCIT Vs Bright Buildtech Pvt. Ltd. (ITAT Delhi)

ITAT Delhi Upholds Deletion of ₹22.38 Crore Interest Disallowance – Advances Found Business-Driven & Not Funded from Interest-Bearing Loans; Commercial Expediency & Ind-AS Adjustments Save Builder from Section 36(1)(iii) Disallowance; No Hypothetical Interest on Business Advances – Tribunal Confirms CIT(A)’s Detailed Findings

Delhi ITAT dismissed the Revenue’s appeal &  upheld the order of CIT(A), which had deleted an addition of ₹22.37 crore disallow

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