Kerala HC Gives Fresh Hearing Despite 588-Day Delay, Orders Rs. 3 Lakh Cost

Sea Castle An Ayurvedic And Leisure Hotel Vs ITO (Kerala High Court) Appeal Dismissed for 588-Day Delay Gets Fresh Life – Assessee to Pay Rs.3 Lakh Cost- Technicalities Cannot Defeat Merits -Natural Justice Prevails The appellant, Sea Castle an Ayurvedic & Leisure Hotel, challenged the orders of CIT(A) & ITAT which had dismissed its appeals relating to AYs 2010-11, 2011-12 & 2012-13. The dispute concerned disallowance of interest & bank charges claimed on loans from Kerala Financial Corporation. AO held that deduction u/s 43B was not allowable since the interest was unpaid ev...