Case Law Details
Case Name : ACIT Vs Sahara India Financial Corporation Ltd (ITAT Delhi)
Appeal Number : ITA No. 7805/DEL/2019
Date of Judgement/Order : 02/01/2024
Related Assessment Year : 20106-17
Courts :
All ITAT ITAT Delhi
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ACIT Vs Sahara India Financial Corporation Ltd (ITAT Delhi)
The case of ACIT (Assistant Commissioner of Income Tax) versus Sahara India Financial Corporation Ltd, adjudicated by the Income Tax Appellate Tribunal (ITAT) Delhi, pertains to the assessment year 2016-17. The appeal, lodged by the Revenue, challenges the order of the Commissioner of Income Tax (Appeals) [CIT(A)].
Grounds of Appeal
The Revenue has raised six grounds of appeal. These include issues related to disallowance of deduction under section 35AC of the Income-tax Act, 1961, addition of interest on loans and advances, disallowance under section 14A of the Act, and addition of interest income from Sahara India Commercial Corporation Ltd.
Disallowance of Deduction under Section 35AC
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