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ITAT Kolkata Allows Interest on Business-Purpose Unsecured Loans
Case Law Details
- Case Name
- Amit Agarwal Vs ITO (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Kolkata
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Amit Agarwal Vs ITO (ITAT Kolkata)
Introduction: The Income Tax Appellate Tribunal (ITAT) Kolkata recently addressed an appeal filed by Amit Agarwal against the disallowance of interest on unsecured loans. The appeal dealt with two key issues – the addition related to the purchase and sale of future/options and the disallowance of interest on unsecured loans. This article provides a detailed analysis of the case and the ITAT’s ruling.
Detailed Analysis:
1. Background of the Case: Amit Agarwal’s appeal is directed against the order of the Commissioner of Income Tax (Appeals)-N...
