24 April 2017
The A.O had disallowed Interest expenditure claimed by the Assessee against Income from House property by invoking provisions of Section 36(1)(iii) of the Act instead of Section 24(b), giving reasons that the Assessee had sufficient borrowed funds and given them on loan without charging interest
Is this treatment valid in law??
If not please quote case laws in support of the same
24 April 2017
Can you please quote case laws where the A.O has invoked wrong section and the appellate authority has deleted the addition on that ground
CAclubindia
