Prior year interest cannot be disallowed if the change in the interest rate was retrospective

Brief of the case

The assesse claimed prior interest expenditure and AO had made an addition of ₹ 1,10,10,874/-.

Question of Law

Whether prior period interest claim is allowable if the increase in the interest rate is with retrospective effect?

Contention of the Assessee

The assessee had contended that on account of retrospective revision of rate of interest which occurred in the assessment year in qu

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