FALLACIOUS DISREGARDING OF TRANSACTIONS THAT RESULT IN A TAX BENEFIT TO THE ASSESSEE
ALLOWABILITY OF OUTSTANDING INTEREST CONVERTED INTO DEBENTURES AS AN EXPENSE U/S 43B OF THE INCOME TAX, 1961
October 23, 2021DISALLOWANCE U/S 14A
October 23, 2021Key Takeaways:
- Facts of the case
- AO’s contention
- Ruling of CIT(A) and issues for consideration of the ITAT
- Observations of ITAT
- Final Ruling
- Way Forward