The Income Tax Appellate Tribunal ( ITAT ), Hyderabad bench has held that the amount of interest paid to a Private bank is out of the purview of Section 43B of the Income Tax Act, 1961 and therefore, the same cannot be disallowed. Assessee paid an amount of Rs. 1,76,564 towards Hire Purchase interest to […]
The post Interest Paid to Private Bank can’t be disallowed u/s 43B: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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